Investing.com - U.S. non-farm private employment increased more-than-expected in March, further dampening hopes for monetary easing in the U.S., industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 209,000 in March, beating expectations for an increase of 200,000.
The previous month’s figure was revised up to a gain of 230,000 from a previously reported increase of 216,000.
The report said employment in the service-providing sector rose by 164,000 in March, after rising by a revised 183,000 in February.
Employment in the private, goods-producing sector rose 45,000 in March, while manufacturing employment added 23,000 jobs.
Employment in the construction industry grew by 13,000 in March, marking the sixth consecutive monthly gain in this sector.
Employment in the financial services sector increased 8,000 in February, marking the eighth consecutive monthly gain.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD slumping 0.69% to hit 1.3143.
Meanwhile, U.S. stock index futures held on to sharp losses after the release of the data. The Dow Jones Industrial Average futures indicated a drop of 0.75%, S&P 500 futures pointed to a loss of 0.7%, while the Nasdaq 100 futures signaled a 0.6% decline.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 209,000 in March, beating expectations for an increase of 200,000.
The previous month’s figure was revised up to a gain of 230,000 from a previously reported increase of 216,000.
The report said employment in the service-providing sector rose by 164,000 in March, after rising by a revised 183,000 in February.
Employment in the private, goods-producing sector rose 45,000 in March, while manufacturing employment added 23,000 jobs.
Employment in the construction industry grew by 13,000 in March, marking the sixth consecutive monthly gain in this sector.
Employment in the financial services sector increased 8,000 in February, marking the eighth consecutive monthly gain.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD slumping 0.69% to hit 1.3143.
Meanwhile, U.S. stock index futures held on to sharp losses after the release of the data. The Dow Jones Industrial Average futures indicated a drop of 0.75%, S&P 500 futures pointed to a loss of 0.7%, while the Nasdaq 100 futures signaled a 0.6% decline.