US ADP 4-Week Average Employment Change Drops to 25.5K
Private-sector hiring in the US slowed in late May, with the four-week average ADP employment change falling to 25.5K jobs per week, according to the NER Pulse report.
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The NER Pulse, a weekly companion to the ADP National Employment Report, indicated that US private-sector employers added an average of 25.5K jobs per week over the four weeks ending in late May. This marks a decline from previous readings, signaling a cooling in the labor market.
The data suggests that hiring momentum is fading, which could influence Federal Reserve policy expectations and the broader economic outlook.
Source: FXStreet Forex News