US Private Sector Jobs Rise by 63,000, Above Expectations
US private sector jobs increased by 63,000 in February, exceeding the forecast of +50,000, according to a report by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab. The January figure was revised to +11,000.
This increase marks a recovery from the weak pace of hiring at the start of the year, although it still represents moderate growth compared to stronger periods of expansion. ADP also reported 4.5% annual wage growth in February, keeping market attention on the dynamics of service inflation and the sensitivity of interest rate policy.
For the market, ADP is often used as an early signal ahead of the government's payroll release. However, its implications for the Fed's expectations will depend on confirmation from official labor data and subsequent inflation indicators. (alg)
Source: Newsmaker.id
