The United States has generated 152,000 private jobs in May, according to ADP (Automatic Data Processing), its lowest result in four months. The figure is well below the 173,000 expected by the market. In addition, the April figure has been revised downwards, standing at 188,000 compared to the 192,000 published last month.
Job creation was slower in May due to a sharp decline in the manufacturing sector. Leisure and hospitality also showed weaker hiring.
“The Job creation and wage growth are slowing heading into the second half of the year. The labor market is solid, but we are monitoring notable pockets of weakness linked to both producers and consumers,” he noted. Nela Richardsonchief economist at ADP.
dollar reaction
The Dollar Index (DXY) has retreated slightly to 104.25 as an initial reaction, although it remains positive on the day. At the time of writing, the DXY is trading above 104.29, gaining 0.13% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
