US ADP private sector employment rises 233,000 in October vs. 115,000 expected

Private sector employment rose at a stronger pace than expected in October.
US Dollar Index clings to small daily gains slightly below 104.50.

Eren Sengezer FXStreet

Private sector employment in the US rose 233,000 in October and annual pay was up 4.6%, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 159,000 increase (revised from 143,000) recorded in September and surpassed the market expectation of 115,000 by a wide margin.

Assessing the report's findings, "even amid hurricane recovery, job growth was strong in October,” said Nela Richardson, chief economist, ADP. "As we round out the year, hiring in the US is proving to be robust and broadly resilient."

Market reaction

The US Dollar Index edged higher with the immediate reaction and was last seen posting small daily gains near 104.40.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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