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Private sector employment increased by 205,000 jobs from

Wednesday, Feb 03 2016
Private sector employment increased by 205,000 jobs
 
December to January according to the January ADP National Employment Report. Analysts were forecasting increase by 193,000. "One of the main reasons for lower overall employment gains in January was the drop off in jobs added at the largest companies compared to December. These businesses are more sensitive to current economic conditions than small and mid-sized companies,” said Ahu Yildirmaz, VP and head of the ADP
Research Institute. “Over the past year, businesses with less than 500 employees have created nearly 
80 percent of new jobs.”
 Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth remains strong despite the turmoil in the global economy and financial markets. Manufacturers and energy companies are reducing payrolls, but job gains across all other industries remain robust. The U.S. economy remains on track to return to full employment by mid-year.”
 
Euro is currently being traded few points above 1.0950 level, Sterling is around 1.4530 handle, while Aussie is around 0.7070 area.
More in this category: « UK Services PMI little changed in January NAB Business Confidence rose to +4 in Q4 »

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