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U.S. ADP non-farm payrolls rise by 147,000 in October

Published 11/02/2016, 08:17 AM
© Reuters.  U.S. ADP non-farm payrolls rise by 147,000 in October
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Investing.com - U.S. non-farm private employment rose much less than expected in October, dampening optimism over the health of the labor market, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 147,000 last month, below forecasts for an increase of 165,000.

The economy created 202,000 jobs in September, whose figure was upwardly revised from a previously reported increase of 154,000.

While not viewed as a reliable guide for the government jobs report due on Friday, November 4, it does give guidance on private-sector hiring.

EUR/USD was trading at 1.1092 from around 1.1099 ahead of the release of the data, GBP/USD was at 1.2304 from 1.2309 earlier, while USD/JPY was at 103.31 compared to 103.28 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.38, compared to 97.33 ahead of the report.

Meanwhile, U.S. stock futures pointed to a muted open. The Dow futures indicated a loss of 0.15%, the S&P 500 futures pointed to a decline of 0.05%, while Nasdaq 100 futures tacked on 0.05%.

Elsewhere, in the commodities market, gold futures traded at $1,298.65 a troy ounce, compared to $1,298.25 ahead of the data, while crude oil traded at $46.07 a barrel from $46.06 earlier.

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