Wednesday's ADP employment data fell short of expectations, indicating signs of moderation in the labor market. The report has fueled investor optimism, as...
indicating signs of moderation in the labor market . The report has fueled investor optimism, as markets interpret the softer employment figures as a potential catalyst for Federal Reserve rate cuts. This comes ahead of the highly anticipated jobs report, slated for release Friday. It will further clarify the labor market and its potential influence on the central bank's monetary policy stance .
That month, the renewed hopes come as the private sector 80 P sec jobs report was released this morning showing 152,000 jobs created in May versus expectations of 100 and 75,000 on account of weaker hiring in the manufacturing and leisure and hospitality sectors. But given the influx of immigration, you would still expect the labor market to grow at a robust pace.
"The current upcycle started in late'23, so we are only in quarter 3, implying strength likely till mid-26E," Bank of America wrote on Monday.
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