US: Private sector employment rises by 742K in April vs. 800K expected
|- US ADP Employment Change arrived at 742K in April.
- US Dollar Index turned flat on the day near 91.30 after the data.
Employment in the US' private sector increased by 742,000 in April, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed March's print of 565,000 (revised from 517,000) and came in slightly weaker than the market expectation of 800,000.
Commenting on the data, "the labor market continues an upward trend of acceleration and growth, posting the strongest reading since September 2020,” noted ADP Chief Economist Nela Richardson. "Service providers have the most to gain as the economy reopens, recovers and resumes normal activities and are leading job growth in April," Richardson added.
Market reaction
The US Dollar Index inched slightly higher after this report and was last seen trading flat on the day at 91.28.
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