- Private sector employment in US rose at a softer pace than expected.
- US Dollar Index stays below 93.50 after the data.
Employment in the US’ private sector rose by 365,000 in October, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.
This reading followed September’s increase of 753,000 (revised from 749,000) and missed the market expectation of 650,000 by a wide margin.
Commenting on the data, “the labor market continues to add jobs, yet at a slower pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Although the pace is slower, we’ve seen employment gains across all industries and sizes.”
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily gains at 93.38.
This article was originally published by Fxstreet.com. Read the original article here.