US: ADP Employment Change arrives at +307K in November vs. +410K expected
|- Private sector employment in US rose at a softer pace than expected in November.
- US Dollar Index stays below 91.50 after the data.
Employment in the US' private sector increased by 307,000 in November, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.
This reading followed October's increase of 404,000 (revised from 365,000) and missed the market expectation of 410,000.
Commenting on the data, "while November saw employment gains, the pace continues to slow," noted Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "Job growth remained positive across all industries and sizes."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily gains at 91.35.
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