U.S. firms may cut another million jobs: M. Advisers

NEW YORK (Reuters) - U.S. companies may reduce another million or so jobs for the remainder of 2009, even if the economy emerges from recession later this year, Joel Prakken, chairman of Macroeconomic Advisers said on Wednesday.

The U.S. jobless rate will likely peak in the 9.5 percent to 10.0 percent in 2010, compared with 8.9 percent in April -- the highest since September 1983, Prakken said in a teleconference call with reporters.

Earlier, the ADP National Employment Report, which was jointly created by Prakken's economic research firm and ADP Employer Services, showed the U.S. private sector shed 532,000 jobs in May, greater than analyst forecast.

The ADP data are used some traders as a predictor of the government's monthly payroll figure.

(Reporting by Richard Leong; Editing by Theodore d'Afflisio)