March ADP - Job growth accelerates
2024-04-03
Summary:
ADP's Feb. employment report: 140K nonfarm private jobs added, up from 111K in January. But it falls short of the expected 149K new private jobs.
March ADP
3/4/2024 (Wed)
Previous (Feb): 140k Forecast: 150k
The ADP employment report revealed that 140K nonfarm private jobs were added in February, a pickup from the 111K private jobs added in January. The latest figure is lower than the expected 149K new private jobs.
Along with the job growth, annual pay increased 5.1% for those staying in their jobs, which ADP said was the smallest rise since August 2021, a potential indication that inflation pressures are receding.
In recent months, ADP has consistently undershot the closely watched report from the BLS, which showed an increase of 275k for the month, nearly double the ADP reading.
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.
NFP - The hourly wage growth meets expectations
Nonfarm payrolls rose by 303,000 in March, surpassing expectations of 200,000 and February's revised 270,000 gain, per the BLS.
2024-05-03
Gold Prices Hold Steady Due to Fed Caution
Gold prices stayed near $2,300 on Friday as Fed Chair Powell said a rate hike is unlikely. This dampened demand for the safe-haven asset.
2024-05-03
Oil prices pick up as US SPR is to be refilled
Oil prices rose Thursday as the US may buy for SPR. Prices had fallen on hopes for an Israel-Gaza ceasefire and high oil inventories.
2024-05-02
