U.S. economy generated 324,000 new private-sector jobs in July: ADP
The numbers: Private-sector employment rose by 324,000 in July, payroll processor ADP said, in a sign that businesses continue to hire in response to steady economic growth.The ADP payroll numbers offer clues about how many jobs are created each month, but they have a poor record of foreshadowing the government’s official employment report.The government on Friday is expected to report that 200,000 new jobs were created in July, including new hires in government.
In its revised figures for June, ADP said 455,000 new jobs were created instead of the initially reported 497,000.Big picture: The U.S. labor market has softened a bit. Not as many companies are hiring and they are not hiring as many people as they were a year ago. Yet by any measure the jobs market is still quite strong, keeping upward pressure on wages and possibly inflation. Workers have sought more money not only because they have more leverage, but also to try to keep up with the rising cost of living.
Market reaction: The Dow Jones Industrial Average DJIA, +0.20% and S&P 500 SPX, -0.27% were set to open lower in Wednesday trades.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fantasy Football ADP Analysis: Should we let Jonathan Taylor fall out of the first round?Fantasy managers! Now is the time to prepare for your fantasy football drafts. And to help get you up-to-speed, I'll break down the risers and fallers relative to Average Draft Position (ADP) every week until kickoff.
Read more »
EUR/USD regains 1.1000 on US credit rating cut, focus on ADP Employment ChangeEUR/USD regains 1.1000 on US credit rating cut, focus on ADP Employment Change – by anilpanchal7 EURUSD Employment RatingAgencies RiskAversion Fed
Read more »
AUD/USD barely holds 0.6600 amid US credit downgrade, eyes on US ADP Employment ChangeAUD/USD barely holds 0.6600 amid US credit downgrade, eyes on US ADP Employment Change – by anilpanchal7 AUDUSD RBA Fed RiskAversion RatingAgencies
Read more »
WTI extends its upside below $ $82.00 area, eyes on US ADPWestern Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $81.94 mark so far on Wednesday. WTI prices retreat from $82.12, t
Read more »
USD/CAD holds below 1.3280 ahead of US ADP Employment ChangeThe USD/CAD pair loses ground after approaching the 1.3300 mark and holds above 1.3275 during the early Asian session on Wednesday. The major pair is
Read more »
Forex Today: US Dollar holds firm as focus shifts to ADP employment dataForex Today: US Dollar holds firm as focus shifts to ADP employment data – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Read more »