Forex
US Private Sector Job Growth Slows Down Sharply in July
The US private sector job growth slowed down more than expected in July, according to the latest ADP National Employment Report. The report showed a sharp decline from the previous month's increase of 98,000 to a gain of only 44,000.
This result missed market expectations, which were a gain of 68,000 jobs. Markets view this data as a sign that the US labor market may be losing momentum.
The ADP report measures changes in private employment using payroll data from about 400,000 US businesses and is typically released ahead of the Labor Department's nonfarm payrolls report.