U.S. private-sector hiring misses forecast by a lot, weighing on the dollar.
ADP reports job creation in May at 37,000, the lowest level since March 2023. It is down from 60,000 in April and WSJ consensus of 110,000. Trump cites the report on social media to call on Fed Chair Powell to cut interest rates.
The data comes as markets sensed that hiring has been weakened by tariff uncertainty. The May payrolls report, due Friday, is expected to also show a slowdown.
Latest News
- The Procter & Gamble Company Plans to Reduce its Workforce by up to 7,000 Due to Economic Challenges and Tariff Impacts
- JPMorgan has had enough of grads accepting future-dated roles elsewhere—and anyone caught will now be fired
- Was Jim Cramer Right About AppLovin Corporation (APP)?
- When will mortgage rates go down to 5%?
- China may make a ‘retaliatory’ move that experts say will ‘hit' US homeowners 'hard.' Here's what's happening
- 5 strategies to pay off your loan faster
