Today ADP employment numbers were released from US for the month of February.
ADP number shows the US labor markets are showing a lot of volatility lately.
There are two things to note in the headline that,
- January begins solid.
- January payroll got a revision. It has now revised to 261,000 (up from 246,000).
Key highlights –
- Non-farm private sector employment grew at 298,000 in February, the median expectation was for 190,000.
- Small business sector hiring at 104,000, compared to 62,000 last month.
- Employment in franchise increased to 17,100 compared to last month’s 23,300.
- Mid-sized companies added 122,000 jobs compared to last month’s 102,000 jobs.
- Large sector added just 72,000 compared to last month’s 83,000 jobs.
- Manufacturing sector payroll registered 32,000 jobs gains compared to 15,000 job gain last month.
- 106,000 jobs were gained in goods producing sector, compared to last month’s 46,000 jobs gains.
- Construction sector saw 66,000 jobs gains, compared to last month’s 25,000 jobs gain.
- Services sector employment remains robust as payroll added 193,000 people in February. January gains were 201,000.
Dollar index is currently trading at 102.15, up by 0.3% for the day so far. Remember the focus is on election in Europe, but another massive hit for the dollar.
