Jobs data from ADP
Lowest since Sept 2017
Prior was 219K (revised to +217K)
Goods producing +24K
Service producing +139K
This was the biggest miss compared to expectations since May 2016. The US dollar is a tad softer on the headlines but I don't think anyone is writing of the US economy.
"Although we saw a small slowdown in job growth the market remains incredibly dynamic," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "Midsized businesses continue to be the engine of growth, adding nearly 70 percent of all jobs this month, and remain resilient in the current economic climate."
Mark Zandi, chief economist of Moody's Analytics, said, "The job market is hot. Employers are aggressively competing to hold onto their existing workers and to find new ones. Small businesses are struggling the most in this competition, as they increasingly can't fill open positions."
