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US private sector employment rises by 235K in December vs. 105K expected – Crypto News
The data published by Automatic Data Processing (ADP) showed on Thursday that private sector employment in the US rose by 235,000 in December. This reading came in much higher than the market expectation of 150,000.
Commenting on the data, “the labor market is strong but fragmented, with hiring varying sharply by industry and establishment size,” said Nela Richardson, chief economist, ADP. in some cases cut jobs in the last month of the year.”
Further detail of the publication revealed that annual pay was up 7.3% on an annual basis in December.
Market response
The US Dollar gathered strength against its rivals with the initial reaction. As of writing, the US Dollar Index was up 0.35% on the day at 104.62.
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