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Private sector employment increased by 177,000 jobs, ADP report shows

Private sector employment increased by 177,000 jobs from May to June according to the June ADP National Employment Report. “The labor market continues to march towards full employment,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Healthcare led job growth once again and trade rebounded nicely.”

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US manufacturing jumps for a second straight month, construction spending rises

A measure of U.S. manufacturing activity surged in June likely as steel and aluminum tariffs caused disruptions to the supply chains, resulting in factories taking longer to deliver goods. The Institute for Supply Management (ISM) said on Monday its index of national factory activity jumped to a reading of 60.2 last month from 58.7 in May. A reading above 50 in the ISM index indicates an expansion in manufacturing, which accounts for about 12 percent of the U.S. economy.

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USD - Major events in the week ahead

On Monday New Home Sales figures were released. Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.7 percent above the revised April rate of 646,000 and is 14.1 percent above the May 2017 estimate of 604,000. The median sales price of new houses sold in May 2018 was $313,000. The average sales price was $368,500.

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Unemployment Claims increased to 227,000

In the week ending June 23, the advance figure for seasonally adjusted initial claims was 227,000, an increase of 9,000 from the previous week's unrevised level of 218,000. The 4-week moving average was 222,000, an increase of 1,000 from the previous week's unrevised average of 221,000. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending June 16, unchanged from the previous week's unrevised rate.

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