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Private sector employment increased less than expected

Wednesday, May 06 2015
Private sector employment increased by 169,000 jobs from March to April, missing expectations on an increase by 189,000.  "April job gains came in under 200,000 for the second straight month,” said Carlos Rodriguez, president and chief executive officer of ADP.   “Companies with 500 or more employees had the slowest growth.”
 
 
Mark Zandi, chief economist of Moody’s Analytics, said, “Fallout from the collapse of oil prices and the surging value of the dollar are weighing on job creation.  Employment in the energy sector and manufacturing is declining.  However, this should prove temporary and job growth will reaccelerate this summer.” 
 
After the data US fell agqinst its major rivals. Euro is currently being traded few points above 1.1270 level,  Sterling is around 1.5250 area, while is Aussie is slightly above 0.80 handle.
More in this category: « UK Services PMI at the highest level since August Australian employment decreased by 2,900 »

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