Prior was +99K (revised to +103K)Annual pay growth for job-stayers 4.7% vs 4.8% priorJob-changers’ pay gains 6.6% vs 7.3% priorServices +101K vs +72K priorGoods +42K vs +27K priorThere was strength in construction, education and leisure/hospitality
USD/JPY is at the highs of the day after this report, breaking 145.00 and up nearly 150 pips on the day. Bonds are also selling off and at the lows of the day as the focus shifts from the Middle East to the US economy.
“Stronger hiring didn’t require stronger pay growth last month,” said Nela Richardson, chief economist,
ADP. “Typically, workers who change jobs see faster pay growth. But their premium over job-stayers
shrank to 1.9 percent, matching a low we last saw in January.”
Details:
Natural resources/mining 14,000
Construction 26,000Manufacturing 2,000Trade/transportation/utilities 14,000 Information -10,000
Financial activities 2,000 Professional/business services 20,000 Education/health services 24,000 Leisure/hospitality 34,000 Other services 17,000
This article was written by Adam Button at www.forexlive.com.
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