Analysts at Nomura explained that the ADP reported a 178k increase in private employment during May, slightly below expectations (Nomura: 205k, Consensus: 190k). Key Quotes: “The April estimate was revised down to 163k, from the previously reported 204k, consistent with the softerthan-expected BLS report for April. Goods-producing industries continued to contribute solidly to employment growth in May with mining (+11k), construction (+39k) and manufacturing (14k) all in positive territory.” “Service-providing employment was strong except for a 23k decline in trade/transportation/utilities employment, possibly related to ongoing structural changes in the retail sector (ADP does not separate out retail). Professional & business services (+61k), education/health services (+35k) and leisure/hospitality (+33k) all showed solid growth.” “Overall, ADP’s estimate of May employment change was below our forecast of 205k for the BLS’ estimate of private payroll gain for May. However, our above-consensus forecast reflects potential upside risk from weather effects. Historically, ADP has had a difficult time capturing weather effects for employment growth.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US GDP tracking estimate higher – Nomura FX Street 5 years Analysts at Nomura explained that the ADP reported a 178k increase in private employment during May, slightly below expectations (Nomura: 205k, Consensus: 190k). Key Quotes: "The April estimate was revised down to 163k, from the previously reported 204k, consistent with the softerthan-expected BLS report for April. Goods-producing industries continued to contribute solidly to employment growth in May with mining (+11k), construction (+39k) and manufacturing (14k) all in positive territory." "Service-providing employment was strong except for a 23k decline in trade/transportation/utilities employment, possibly related to ongoing structural changes in the retail sector (ADP does not separate out retail). Professional &… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
