US private employers create 158,000 jobs in June

US private employers create 158,000 jobs in June

U.S. private employers created 158,000 jobs in June, according to the ADP non-farm employment report released on Thursday.

Analysts had predicted a job creation pace of 184,000 after a robust 230,000 jobs in May.

"The job market continues to power forward," Moody's Analytics chief economist Mark Zandi said in a statement. "At this pace, which is double the rate of labor force growth, the tight labor market will continue getting tighter."

As know, this report is carefully watched as it provides clues about the health of the labor market ahead of tomorrow’s non-farm payrolls figures.

The government NFP may show the U.S. created 175,000 jobs last month, while the unemployment rate stood at its record low of 4.3 percent.  

Another report from the U.S. showed that initial jobless claims rose by 4,000 to 248,000 in the week ended June 30.

Later in the day, the U.S. will release its ISM non-manufacturing PMI for June, where it may show a narrowing expansion to 56.5 from a previous of 56.9.

As of 12:40 GMT, the dollar traded lower versus a basket of major currencies around 95.98, as depicted by the dollar index.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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