US ADP Data Slows, Labor Market Remains Solid
Job creation in the United States private sector continued to show resilience in June, although the pace slowed compared to the previous month. This data adds to signs that the US labor market has remained stable throughout the year.
According to an ADP Research report released Wednesday, private sector employment increased by 98,000 in June. This figure is lower than the previous month's increase of 122,000.
This figure also fell short of market expectations. A Bloomberg survey of economists had previously estimated a private sector increase of 120,000.
Although lower than expected, the ADP data still indicates that US companies are still hiring. However, this slowdown could be a concern for the market as it assesses the future direction of the Federal Reserve's interest rate policy. (gn)
Source: Newsmaker.id