Summary:
ADP report: The US added 164,000 jobs in December, surpassing 130,000 expectations, signaling a robust close to the 2023 labor market.
Jan ADP
31/1/2024 (Wed)
Previous (Dec): 164k Forecast: 135k
Hiring in the private sector rose at a faster-than-expected pace in December, closing out a strong 2023 for the resilient US jobs market.
Private payrolls increased by 164k for the month, a substantial rise from the downwardly revised 101k in November and better than the 130k estimate. The pace of earnings growth decelerated again.
“We’re returning to a labour market that’s very much aligned with pre-pandemic hiring,” ADP’s chief economist, Nela Richardson, said. “While wages didn’t drive the recent bout of inflation, now that pay growth has retreated, any risk of a wage-price spiral has all but disappeared.”
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Trump's policies led to US stock outflows, and the dollar's decline widened the asset gap. Emerging markets may attract capital inflows.
2025-04-30
Inflation did not slow down in February, with core PCE up 2.8% year-on-year. Goods prices rose 0.2%, led by entertainment goods and automobile prices.
2025-04-30
Private sector added 155,000 jobs in March, with wages up 4.6%, easing concerns about a labor market and economic slowdown.
2025-04-30
