Summary
- US private payrolls rose by 15,000, slowing from the previous week's gain of 16,500.
- The weaker employment reading could act as a modest bearish factor for the US dollar.
- Markets use ADP's weekly employment change as a reference point to gauge labor trends before the BLS nonfarm payrolls report.
Forecast Trend Report by Period
US private-sector job growth slowed slightly from the prior week, ADP data showed. The softer employment reading could be a modest bearish signal for the dollar.
US private payrolls increased by 15,000 in ADP's weekly employment change report released on July 28. That was below the previous week's gain of 16,500. No separate market forecast was provided.
ADP's weekly employment change measure tracks the four-week moving average of changes in total US private-sector employment. It uses high-frequency data from ADP, the nation's largest payroll processor, to provide a relatively quick read on labor-market trends.
Markets use the indicator as a reference point for assessing employment trends ahead of the Bureau of Labor Statistics' nonfarm payrolls report.
Stronger job growth typically boosts expectations for consumer spending and economic expansion, supporting the dollar. A slowdown, by contrast, can weaken expectations for growth and consumption, making it a bearish signal for the greenback.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.