US ADP Non-Farm Employment Increased by 163K - 1.8.2012
Private sector employment excluding farming from June to July increased by 163,000 which exceeded consensus at 121,000 positive change. However it rose less than the May to June employment increase at 172,000 according to ADP National Employment Report. Moreover, the reading of ADP Employment in June was revised moderately lower from 176,000 to 172,000.
The ADP report for the Non-Farm Employment change can give some early indications on the well anticipated Non-Farm Payrolls on Friday which includes private and public sectors. The report gave some hope that the labor market is improving, better picture will be provided by NFP which is anticipated to increase by 101,000 though Unemployment is expected to remain at 8.2%. The greenback strengthened by 20 percentage points and jumped to 0.9772 against the Swiss franc.