US Private-Sector Hiring Cools, 4-Week Average at 29K
The latest ADP employment data shows a 4-week average of 29,000 new private-sector jobs per week in late May, indicating a slowdown in hiring.
The ADP National Employment Report's weekly companion, the NER Pulse, reveals that private-sector hiring in the United States has moderated toward the end of May. The four-week moving average of job gains stands at 29,000 per week.
This figure reflects a cooling trend in the labor market, though it remains positive. The data is closely watched as a precursor to the official monthly employment report.
Source: FXStreet Forex News