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ADP report: US private sector adds 179,000 jobs
New ADP report: US private sector could add 179,000 jobs in April. Fed is watching closely. US dollar in consolidation phase. Fed is approaching healthy equilibrium.
ADP report: US private sector adds 179,000 jobs
The U.S. private sector is expected to add 179,000 jobs in April, the ADP report predicts. This information is seen by analysts as a key indicator for the Bureau of Labor Statistics' official jobs report, which will be released on May 3. Although the expected 179,000 new jobs are slightly below the 184,000 reported in March, previous figures are still subject to revision.
Publishing this data is critical because it can help market participants interpret the Federal Reserve's monetary policy decisions. When it comes to the U.S. labor market, various Fed policymakers have emphasized the strength of the labor market while noting that not all data points to possible overheating.
US Treasury Secretary Janet Yellen was positive about the current state of the labor market, emphasizing that there is no evidence that working conditions are contributing to inflation. Other Federal Reserve officials have noted that despite the continued strength of the labor market, excessive wage pressures are not yet present. These statements suggest that the labor market is moving towards a healthier equilibrium and inflation is not rising as much as last year.