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The United States generates 103,000 private ADP jobs compared to the 130,000 expected

The report of United States ADP private employment has generated fewer jobs than expected in November. Total, 103,000 jobs have been created, 10,000 less than in October, when they amounted to 113,000. The figure disappoints market expectations, which expected an increase to 130,000.

As reported by ADP, last month there was moderate growth in hiring and another slowdown in wage gains. Both goods and services experienced weakness, with leisure, hospitality and manufacturing recording declines.

According to Nela Richardson, chief economist at ADP: “Restaurants and hotels were the biggest job creators during the post-pandemic recovery. But that momentum is behind us, and the return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring growth. and salaries in 2024”.

USD reaction

He Dollar Index (DXY) has reacted to the data with a brief rebound around the 104.00 area. Currently, the pair is trading above 104.01, gaining 0.06% daily.

Source: Fx Street

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