United States private sector employment rises 98K in June vs. 113K expected
Private sector employment in the United States grew by 98K in June, the Automatic Data Processing (ADP) reported on Wednesday. This print followed the 122K increase recorded in May and came in below the market expectation of 113K.
Assessing the report's findings, "the pace of hiring is telling a story of both supply and demand. We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries. For now, the overall effect is a slowdown in job creation," said Nela Richardson, Chief Economist, ADP.
Market reaction
The US Dollar (USD) preserves its strength following this report. At the time of press, the USD Index was up 0.25% on the day at 101.41.
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