Analysis: ADP Continues to Recover, Fed May Lean Towards Keeping Rates Unchanged or Considering Rate Hikes

Odaily According to an analyst from the American financial website investinglive regarding the ADP data, after a period of weakness, the data has shown acceptable performance for two consecutive times. Although the addition of 62,000 jobs is not considered strong, it somewhat alleviates the pressure on the Federal Reserve's employment goals, making it more inclined to keep interest rates unchanged or consider raising them. At the same time, employment growth in small businesses has also improved. The negative aspect of the report is that out of the 62,000 new jobs, 58,000 are from the education and healthcare services sectors. The construction sector added 30,000 jobs, while trade/transportation/utilities lost 58,000 jobs, and manufacturing lost 11,000 jobs. (Jin10)