Today ADP employment numbers were released from US for the month of April.
ADP number shows US economy and its labour markets may have hit a break in second quarter.
There are two things to note even in the headline that,
- Job growth was much weaker, weakest headline since January, 2014.
- March payroll marginally revised to 194,000 (down from 200,000).
Key highlights –
- Non-farm private sector employment grew at 156,000 in April, median expectation was for 196,000.
- Small business sector hiring at 93,000, compared to 86,000 last month.
- Employment in franchise increased to 14,100 compared to last month’s 22,000.
- Mid-sized companies added 39,000 jobs compared to last month’s 75,000 jobs.
- Large sector added just 24,000 compared to last month’s 39,000 jobs.
- Manufacturing sector payroll declined by 14,000 jobs compared to 3,000 jobs addition last month.
- 11,000 jobs were lost in goods producing sector, compared to last month’s 9,000 jobs addition.
- Construction sector added 14,000 on payroll, compared to last month’s 17,000.
- Services sector employment remains robust as payroll added 166,000 people in April. March gains were 191,000.
Dollar index dropped after the data, against all major trading counterparts. Trading at 92.88, down -0.1% for the day so far.
The material has been provided by InstaForex Company – www.instaforex.com