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ADP January Labor Market Report: New impetus for the US economy?
According to a report from finanzmarktwelt.de, the ADP labor market report (January) provides disappointing data. Instead of the expected 145,000 new jobs, the report only recorded 107,000 new jobs. This has an impact on the market reaction, as uncertainty regarding interest rates remains and the development of the US labor market is contradictory. The weaker jobs report could lead to small moves with US futures slightly higher and yields falling slightly ahead of the Fed's decision this evening. This uncertainty may also impact the financial industry as markets continue to see no clear direction for interest rates. ADP's Nela Richardson comments that although hiring and pay have been curbed, progress is being made on...
ADP January Labor Market Report: New impetus for the US economy?
According to a report by finanzmarktwelt.de, the ADP jobs report (January) provides disappointing data. Instead of the expected 145,000 new jobs, the report only recorded 107,000 new jobs. This has an impact on the market reaction, as uncertainty regarding interest rates remains and the development of the US labor market is contradictory.
The weaker jobs report could lead to small moves with US futures slightly higher and yields falling slightly ahead of the Fed's decision this evening. This uncertainty may also impact the financial industry as markets continue to see no clear direction for interest rates.
ADP's Nela Richardson comments that although hiring and pay have been curbed, progress on inflation is brightening the economic picture. Wages adjusted for inflation have improved over the past six months, and the economy appears to be heading toward a smooth transition in the U.S. and globally.
The reaction to this data could be of interest to investors and financial professionals as uncertainty in the labor market and the impact on interest rates continue to raise questions.
Read the source article at finanzmarktwelt.de