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ADP report showed increase by 201,000 jobs

Wednesday, Jun 03 2015
Private sector employment increased by 201,000 jobs from April to May according to the May ADP National Employment Report. This was mostly in line with market expectations. "The labor market moved back up to the 200,000 jobs added mark in May, a number which has been something of a bellwether for healthy employment growth,” said Carlos Rodriguez, president and chief executive officer of ADP.  
 
 “We hope that the May number is the beginning of an upward trend going into the summer months.” Mark Zandi, chief economist of Moody’s Analytics, said. “The job market posted a solid gain in May. Employment growth remains near the average of the past couple of years.  At the current pace of job growth the economy will be back to full employment by this time next year. The only blemishes are the decline in mining jobs due to the collapse in oil prices and the decline in manufacturing due to the strong dollar.” 
 
After the figures were released USD added few points against its major rivals. Aussie is currently being traded around 0.7760 area, euro is few points above 1.1120 level, while Sterling is around 1.5260 area. Later today, Trade Balance and Non-Manufacturing PMI data is scheduled for a release.
More in this category: « Eurozone Retail Sales rose by 0.7% US Trade Balance narrowed to $40.9 billion in April »

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