US Private Sector Employment Rises 89,000 In September Vs. 153,000 Expected
Private sector employment in the US rose 89,000 in September, the data published by Automatic Data Processing (ADP) showed on Wednesday. This reading followed the 180,000 increase (revised from 177,000) recorded in August and missed the market expectation of 153,000 by a wide margin.
"Job stayers saw a 5.9 percent year-over-year pay increase in September, marking the 12th straight month of slowing growth," the publication read. "Pay gains also shrank for job changers, to 9 percent, down from 9.7 percent in August."
Commenting on the report's findings, “we are seeing a steepening decline in jobs this month,” said Nela Richardson, ADP chief economist. “Additionally, we are seeing a steady decline in wages in the past 12 months," she added.
Market reaction
The US Dollar stays under bearish pressure following the disappointing jobs data. As of writing, the US Dollar Index was down 0.4% on the day at 106.65.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Pound Sterling.
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