US: Private sector employment rises by 247K in April vs. 395K expected
|Private sector employment in the US rose by 247,000 in April, well below the expected gain of 395,000 jobs, according to US payroll company ADP's latest estimate of national employment change released on Wednesday. That marked a sharp decline in the rate of job gains after 479,000 were added to the US economy back in March, according to ADP data. The March job gain estimate had been revised slightly higher from 455,000.
Market Reaction
With ADP's estimate of monthly US employment change not regarded as a particularly accurate predictor of the Bureau of Labour Statistic's official non-farm payroll employment change number, which is scheduled for release on Friday, FX markets have not reacted to the latest data. Attention, for now, remains very much on the Fed's upcoming policy announcement.
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