ADP Employment Change 4-week average eases to 9K
Private-sector hiring in the US appears to have lost a bit of momentum toward the end of February. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of just 9K jobs per week in the four weeks through February 28.
That marks a pause after three consecutive weeks of decent gains, hinting that the recent improvement in hiring may be starting to level off.
The focus now shifts to the usual weekly labour market data, which should help determine whether this softer patch is temporary or a sign that the broader US jobs backdrop is losing steam.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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