Summary
- US ADP weekly employment change slowed to an increase of 16,500 from the previous 19,800.
- The slower pace of job growth could be interpreted as a negative factor for the US dollar.
- The indicator is used as a reference for tracking US private employment trends and broader labor-market conditions.
Forecast Trend Report by Period
US private-sector job growth slowed from the previous reading, a sign that could weigh on the dollar.
The latest US ADP weekly employment change report, released on July 21, showed private-sector employment increased by 16,500. That was lower than the previous increase of 19,800. No separate market forecast was provided.
The ADP weekly employment change report is a private-sector employment indicator published by Automatic Data Processing Inc., the largest US payroll processor. Based on ADP's high-frequency data, it tracks trends in US private employment and reflects changes on a four-week moving-average basis.
Market participants also use the indicator as a reference for gauging labor-market trends ahead of the US nonfarm payrolls report from the Bureau of Labor Statistics.
Typically, a rise in ADP weekly employment change is interpreted as a positive signal for consumer spending and the broader economy, which can support the dollar. A weaker reading, by contrast, can be taken as a sign of slowing employment and a negative factor for the greenback.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.