US ADP Report: Below expectation

Today ADP employment numbers were released from the US for the month of April.

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• The report was almost in line with expectations but quest the on that would be asked whether this is the end of initial trump momentum.  

• March payroll got a revision. It has now revised to 255,000 (down from 263,000).

Key highlights –

• Non-farm private sector employment grew at 177,000 in April, the edian expectation was for 180,000.
• Small business sector hiring at 61,000, compared to 118,000 last month.
• Employment in franchise increases to 5,400 compared to last month’s 13,900.
• Mid-sized companies added 78,000 jobs compared to last month’s 100,000 jobs.
• The Large sector added just 38,000 compared to last month’s 45,000 jobs.
• Manufacturing sector payroll registered 11,000 jobs gain compared to 30,000 job gain last month.
• 12,000 jobs were gained in the goods-producing sector, compared to last month’s 82,000 jobs gain.
• The construction sector saw 2,000 jobs loss, compared to last month’s 49,000 jobs gain.
• Services sector employment remains robust as payroll added 165,000 people in April. March gains were 181,000.

The dollar index is currently trading at 99.06, up 0.12% for the day so far.