US Private-Sector Hiring Further Cools, ADP 4-Week Average Falls to 8.25K
US companies added an average of 8,250 jobs per week over the past four weeks, signalling a continued slowdown in private-sector hiring, according to the NER Pulse, the weekly companion to the ADP National Employment Report.
The four-week moving average of weekly private-sector job additions in the US fell to just 8,250, according to the NER Pulse – the high-frequency supplement to the ADP National Employment Report. This marks a further slowdown in hiring momentum as the economy enters the second half of the year.
The declining trend aligns with a broader narrative of a gradual cooling in the labor market, which had long been a source of strength for the US economy. Softer employment data like this can shift expectations for Federal Reserve policy, raising the odds of earlier rate cuts and thereby putting pressure on the US dollar.
Source: FXStreet Forex News