Quick review of U.S. February ADP employment data
U.S. ADP employment increased by 140,000 in February, which was expected to be 150,000. The previous value was revised from 107,000 to 111,000. Data showed that U.S. companies increased hiring at a moderate pace in February, indicating the resilience of demand for workers across industries. ADP chief economist Nela Richardson said job growth remains solid. Salary increases are trending downward but remain above the rate of inflation. In short, the labor market is dynamic, but it won't affect the Fed's interest rate decisions this year.
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