Investing.com – U.S. non-farm private employment rose less-than-expected in March, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 201K in March, after rising by 208K in February, whose figure was revised down from 217K.
Analysts had expected non-farm private sector employment to increase by 210K in March.
The report said employment in the service-providing sector rose by 164K in March, marking 15 consecutive months of employment gains. Employment in the goods-producing sector increased by 37K, the fifth consecutive monthly gain. Manufacturing employment rose 37K, the sixth consecutive monthly gain.
According to the report, the average monthly increase in employment over the last four months has been 211K, consistent with a gradual if uneven decline in the unemployment rate. This is almost three times the average monthly gain of 74K over the preceding four months of August through November.
Following the release, the U.S. dollar was up against the euro, with EUR/USD shedding 0.09% to hit 1.4101.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures indicated a gain of 0.39%, S&P 500 futures pointed to a rise of 0.43%, while the Nasdaq 100 futures climbed 0.7%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 201K in March, after rising by 208K in February, whose figure was revised down from 217K.
Analysts had expected non-farm private sector employment to increase by 210K in March.
The report said employment in the service-providing sector rose by 164K in March, marking 15 consecutive months of employment gains. Employment in the goods-producing sector increased by 37K, the fifth consecutive monthly gain. Manufacturing employment rose 37K, the sixth consecutive monthly gain.
According to the report, the average monthly increase in employment over the last four months has been 211K, consistent with a gradual if uneven decline in the unemployment rate. This is almost three times the average monthly gain of 74K over the preceding four months of August through November.
Following the release, the U.S. dollar was up against the euro, with EUR/USD shedding 0.09% to hit 1.4101.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures indicated a gain of 0.39%, S&P 500 futures pointed to a rise of 0.43%, while the Nasdaq 100 futures climbed 0.7%.