Editor's PiCK
May ADP Non-Farm Employment in United States: 37,000 Cases...Far Below Wall Street Expectations
Summary
- The United States' May ADP non-farm employment index reported 37,000 cases, which is significantly below Wall Street's expected 111,000.
- This figure marks the smallest increase since March 2023 and signals a slowdown in the job market.
- After the indicator was released, Bitcoin dropped 0.28% and was trading at $105,086.
The May ADP (Automatic Data Processing) non-farm employment index in the United States came in significantly below Wall Street expectations.
According to the National Employment Report released by ADP in the United States on the 4th (local time), private new job additions for May totaled 37,000, which is much lower than the expected 111,000. It also sharply missed last month's revised figure of 60,000, marking the smallest increase since March 2023.
The ADP National Employment Report is an employment change metric based on payroll data from roughly 400,000 U.S. business clients of ADP, and it is released before government data, which is why it is used as a predictor of changes in government non-farm employment figures.
After the report was published, Bitcoin saw a slight decline. As of 9:17 p.m., Bitcoin was trading at $105,086 on the Binance USDT market, down 0.28% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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