Today ADP employment numbers were released from US for the month of February.
ADP number shows US economy and its labour markets are quite robust, in spite of global economic slowdown.
There are two things to note even in the headline that,
- Job growth beat expectations, number can be considered as superb considering market turmoil in January and February.
- January payroll marginally revised to 193,000 (down from 205,000).
Key highlights -
- Non-farm private sector employment grew at 214,000 in February, median expectation was for 190,000.
- Small business sector hiring at 76,000, compared to 79,000 last month.
- Employment in franchise increased to 18,500 compared to last month's 20,000.
- Mid-sized companies added 62,000 jobs compared to last month's 82,000 jobs.
- Large sector added just 76,000 compared to last month's 44,000 jobs.
- Manufacturing sector payroll lost 9000 jobs compared to no job gains last month.
- 5,000 jobs were added in goods producing sector, compared to last month's 13,000
- Construction sector added 27,000 on payroll, compared to last month's 21,000.
- Services sector employment remains robust as payroll added 208,000 people in February. January gains were 192,000.
Dollar, marginally higher on the data.
Dollar index is currently trading at 98.41, up +0.16% today so far.
