• Wed. Jul 17th, 2024

Breaking: US private sector employment rises 177,000 in August vs. 195,000 expected

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Private sector employment in the US rose 177,000 in August, the data published by Automatic Data Processing (ADP) showed on Wednesday. This reading followed the 371,000 increase (revised from 324,000) recorded in July and came in below the market expectation of 195,000.

“Job stayers saw a year-over-year pay increase of 5.9%, the slowest growth since October 2021,” the ADP further noted in the press release and said pay growth also decelerated to 9.5% for job changers.

Assessing the report, “this month’s numbers are consistent with the pace of job creation before the pandemic,” said Nela Richardson, chief economist, ADP.

“After two years of exceptional gains tied to the recovery, we’re moving toward more sustainable growth in pay and employment as the economic effects of the pandemic recede,” she added.

Developing story, please refresh the page for updates.

Market reaction

The US Dollar came under modest selling pressure with the immediate reaction to the ADP jobs data. As of writing, the US Dollar Index was down 0.1% on the day at 103.38.

US Dollar price today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Pound Sterling.

USD -0.24% -0.35% 0.01% -0.03% 0.14% -0.06% -0.07%
EUR 0.26% -0.12% 0.27% 0.21% 0.37% 0.17% 0.16%
GBP 0.35% 0.11% 0.38% 0.32% 0.49% 0.28% 0.29%
CAD -0.01% -0.26% -0.37% -0.06% 0.13% -0.08% -0.09%
AUD 0.03% -0.20% -0.34% 0.05% 0.17% -0.02% -0.04%
JPY -0.06% -0.38% -0.52% -0.11% -0.22% -0.24% -0.21%
NZD 0.07% -0.19% -0.30% 0.06% 0.02% 0.21% -0.01%
CHF 0.06% -0.18% -0.28% 0.07% 0.03% 0.21% 0.00%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

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