adp
Washington (AFP) - US private sector hiring came in well above expectations last month, payroll firm ADP said Wednesday, with construction, financial services and manufacturing all contributing to the increase. Private sector employment rose by 184,000 in March, ADP said in a statement. This was sharply above market predictions of 150,000 new jobs, according to Briefing.com. ADP also revised up the February jobs data, from 140,000 to 155,000. The hot jobs data will be well-received by the Biden administration as it seeks to talk up the president's economic record ahead of November's preside...
AFP
Washington (AFP) - Job gains in the US private sector picked up in February, payroll firm ADP said Wednesday, a sign that could give the Federal Reserve some pause as it mulls the timing of interest rate cuts. Private sector employment grew by 140,000 jobs last month, less than analysts expected although up from a revised 111,000 figure in January. "The labor market is dynamic, but doesn't tip the scales in terms of a Fed rate decision this year," said ADP chief economist Nela Richardson in a statement. She added that job gains remained "solid" and while salary increases were cooling, they are...
AFP
Washington (AFP) - Private sector hiring in the United States slowed more than anticipated this month, according to data Wednesday from payroll firm ADP, following efforts to cool the world's biggest economy and tame inflation. In January, the United States added 107,000 jobs in the private sector, ADP said, down from a revised 158,000 in December. Most employment gains were in service-providing sectors including leisure and hospitality, as well as trade, transport and utilities. But other service industries such as information lost positions. "Progress on inflation has brightened the economic...
AFP
Washington (AFP) - Private sector hiring in the United States slowed more than expected in August, according to data from payroll firm ADP on Wednesday, as a boom from the leisure and hospitality sectors faded. This comes as both segments, which are key drivers of summer hiring, slow into the later part of the year while policymakers keep a close eye on labor market strength as they weigh further interest rate decisions. Job growth came in at 177,000 this month, sharply below July's 371,000 figure which was revised upwards, said ADP in its latest report. "This month's numbers are consistent wi...
AFP
Washington (AFP) - Hiring in the US private sector decelerated in July but was nearly twice as high as analysts expected according to payroll firm ADP on Wednesday, signaling strength in the jobs market. The US labor market has proven resilient even as the central bank hiked interest rates rapidly since March 2022 to cool demand -- with higher lending costs making it pricier to borrow funds for activities like business expansion. Job gains came in at 324,000 last month according to ADP, down from a revised 455,000 figure in June and well above analysts' consensus estimate of 185,000 on Briefin...
AFP
Washington (AFP) - US private sector employment heated up unexpectedly in April, according to data released by payroll firm ADP on Wednesday, although pay gains slowed rapidly as well. The jump comes despite policymakers' efforts to rein in stubborn inflation by raising interest rates, and the Federal Reserve is expected to unveil another quarter-point hike at the end of its key policy meeting on Wednesday. Job gains hit 296,000 last month, around twice the figure that analysts expected and a surge from the revised 142,000 number in March, ADP said. But "the slowdown in pay growth gives the cl...
AFP
Washington (AFP) - US employers stepped up their pace of hiring in February, payroll firm ADP said Wednesday, while the central bank warned that inflationary pressures remained widespread in early 2023. The figures are the latest sign that more effort may be needed to cool the world's biggest economy, following a series of recent indicators showing that hiring remained strong, consumer spending resilient and inflation persistent. These came despite the Federal Reserve's efforts to tame price increases, raising interest rates eight times since early last year to ease demand. Private sector empl...
AFP
Washington (AFP) - Private employers in the United States slowed their hiring pace in January, payroll firm ADP said Wednesday, in the latest sign that economic activity is cooling on efforts to rein in inflation. Companies added 106,000 jobs last month, sharply down from 253,000 in December and below analyst expectations, but ADP cautioned that numbers in its reference week were affected by weather disruptions. "Hiring was stronger during other weeks of the month, in line with the strength we saw late last year," said ADP chief economist Nela Richardson in a statement. As the impact of the ce...
AFP
Washington (AFP) - US employers eased their hiring pace in November, with job creation slowing the most since early 2021, as the central bank's interest rate hikes trickle through the economy, payroll firm ADP said Wednesday. Private employment rose by 127,000 jobs this month, much less than analysts expected and below the 239,000-job increase in October, with firms no longer in "hyper-replacement mode," the survey showed. As the Federal Reserve battles to tamp down surging inflation and cool the world's biggest economy, one concern was an uptick in wages over the past year as companies compet...
AFP
Washington (AFP) - US private companies shed jobs last month for the first time since December 2020 as the Omicron coronavirus variant again complicated business -- a potential harbinger of bad news for the upcoming government employment report. Data from payroll services firm ADP released Wednesday said private employment declined by 301,000 in January, far worse than analysts expected, which the survey blamed squarely on the new virus strain. "The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron variant and its significant, though likely temporary,...
AFP
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