Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Positive Jobs Report Surpasses Expectations


Paycheck company ADP has reported that businesses added a solid 164,000 new jobs in December, surpassing the economists’ forecast of a 130,000 increase. Although the ADP payroll estimate is not an accurate predictor of the government’s official employment report, both surveys generally move in the same direction over time.

The reports indicate a general slowdown in hiring, but companies continue to add workers due to the steady demand for their goods and services. It is anticipated that the government will report the creation of 170,000 new jobs in December, including government workers, in its official report.

The Big Picture

While the labor market has lost some of its luster with a decline in job openings to a nearly three-year low and a slower hiring pace, unemployment rates remain extremely low. Moreover, consumers’ confidence in the economy allows them to continue spending. These factors may be enough to prevent the U.S. from entering a recession despite the Federal Reserve’s implementation of high interest rates to control inflation.

Market Reaction

Prior to the release of the ADP report, both the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) were expected to open higher in Thursday trades.

JD Sports Fashion Lowers Forecast for Fiscal 2024 Profit

Previous article

Donald Trump’s Businesses Receive Millions in Foreign Government Payments

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News