Summary:
US private payrolls slowed in December, but a strong labor market suggests the Fed will delay rate cuts, according to ADP.
Jan ADP
5/2/2025 (Wed)
Previous (Dec): 122k Forecast: 150k
US private payrolls growth slowed in December, but the labour market showed enough underlying strength to suggest that the Fed will take its time cutting interest rates this year, the ADP report showed.
The rise of 122,000 was below the consensus forecast for 136,000, and wages grew at the slowest pace since July 2021. There were also few indications to indicate that layoffs are increasing.
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