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Jobs in the private sector increase by 455,000 according to ADP

  • ADP report in line with market expectations.
  • The dollar without major changes, Wall Street extends fall.
  • Nonfarm payrolls and unemployment rates on Friday.

The ADP employment report showed numbers in line with expectations. According to ADP, jobs in the private sector increased in March by 455,000, in line with the 450,000 market consensus. February figures were revised up from 475,000 to 486,000. The March reading is the lowest since August 2021.

Nela Richardson, chief economist at ADP, said the growth in jobs was across all sectors, contributing to the creation of 1.5 million jobs in the first quarter of 2022. She warned that obstacles are in sight. for the growth of the labor market, in the face of limitations in supply.

The dollar did not have a significant reaction to the report. Metals hit fresh daily highs and Wall Street futures extended the decline. In minutes it will be the turn of a new estimate of GDP growth for the fourth quarter.

Source: Fx Street

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