ADP Data Reveals US Private Hiring Slows to 15K Weekly Average
The four-week average for private-sector job gains in the US has cooled to 15,000 per week, according to ADP’s weekly NER Pulse, signaling further easing in labor market momentum.
The US private sector added an average of 15,000 jobs per week over the four weeks ending mid-July, according to the ADP NER Pulse, a weekly supplement to the monthly ADP National Employment Report. This marks a further cooling compared to earlier in the year.
The data highlights a continued moderation in labor demand, potentially easing inflationary pressures. Traders will be watching for how this trend may affect Federal Reserve policy outlook and the US dollar.
Source: FXStreet Forex News