US: ADP - Private sector employment increased by 183K in February vs 189K expected
|"Private sector employment increased by 183,000 jobs from January to February," the ADP announced in its latest employment report. This reading fell short of the market expectation of 189K and came in below the previous reading of 300K (revised from 213K). Below are some key quotes from the official press release.
Ahu Yildirmaz, vice president and co-head of the ADP Research Institute:
- We saw a modest slowdown in job growth this month.
- Midsized companies have been the strongest performer for the past year.
- There was a sharp decline in small business growth as these firms continue to struggle with offering competitive wages and benefits.
Mark Zandi, chief economist of Moody’s Analytics:
- The economy has throttled back and so too has job growth.
- The job slowdown is clearest in the retail and travel industries, and at smaller companies.
- Job gains are still strong, but they have likely seen their high watermark for this expansion.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.