The number of ADP employment in the United States increased by 127,000 in November, an expected increase of 200,000, and the previous value increased by 239,000.
USD index DXY fell by more than 0.50% during the day and is now at 106.31.
US 2-year/10-year Treasury yield inverted interest rate spread narrowed slightly after the ADP report was released, reaching 75 basis points.
Agency comments on the US November ADP employment report: In November, U.S. companies' recruitment speed dropped to their lowest level in nearly two years, and wage growth slowed, indicating that employers may start laying off employees amid increasingly bleak economic outlook. According to released data, the number of employed enterprises increased by 127,000 this month, the lowest level since January 2021. The
ADP report shows that private sector recruitment slowed sharply in November, indicating that the historically tight labor market may be losing some momentum. In October, only 127,000 new jobs were created, significantly lower than the 239,000 announced last month and far lower than the market expectations of 190,000. This is also the lowest level since January 2021. As the Fed struggles to relax the employment situation, relatively weak data emerges, and each available worker still has nearly two vacancies.
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