Private sector employment up by 172,000 jobs

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Thursday, Jul 07 2016

Private sector employment increased by 172,000 jobs from May to June according to the June ADP National Employment Report. “Since the start of 2016, average monthly job creation has slightly dropped,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “Lackluster global growth, low commodity prices, and an unfavorable exchange rate continue to weigh on U.S. companies, especially larger companies.”

Separate report on Unemployment Claims showed that initial claims for unemployment benefits fell by 16,000 last week to a nearly three-month low of 254,000, showing no evidence of rising layoffs ahead of the key U.S. jobs report for June. Economists polled by MarketWatch had forecast new claims to total a seasonally adjusted 265,000 in the week stretching from June 26 to July 2.

Euro is currently being traded few points above 1.1050 area, Sterling is at 1.2920 level, while Aussie is around 0.75 level.

More in this category: « UK Industrial Production fell less than expected French Industrial Production decreased by 0.5% »

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