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PT Solid Gold Berjangka | ADP Says Private-Sector Adds just 113,000 Jobs in November in another Sign of Softening Labor Market

01:37 07 December in Economy, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP by admin_sgb_tcc
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Ekonomi AS ADP US ADP Non-Farm Employment Change Solid Gold Berjangka, Solid Group, PT SGB

Solid Gold Berjangka | Thank you for sharing this information. It provides insights into the current state of the U.S. labor market. Here are some key takeaways:

  1. Job Growth Below Expectations: The ADP report indicates that businesses in the U.S. added 113,000 new jobs in November, falling short of economists’ expectations of a 128,000 increase.
  2. Deterioration in Labor Market: Both the ADP survey and the government’s official employment report are signaling a deterioration in the labor market. Companies appear to be less eager to hire, and there is a reluctance to fill all available job openings.
  3. Impact of Higher Interest Rates: The report suggests that higher interest rates implemented by the Federal Reserve to combat inflation have had an impact on the economy. Businesses are responding by slowing down hiring and attempting to control pay increases.
  4. Expectations for Official Government Report: The government is anticipated to release its official employment report, expected to show the creation of 190,000 new jobs in November. It’s worth noting that this report includes government workers, unlike the ADP estimate.
  5. Overall Labor Market Picture: Despite the challenges, the labor market is described as still relatively strong, with a low 3.9% unemployment rate. However, businesses continue to express concerns about a shortage of labor.
  6. Economic Outlook: The broader economic outlook suggests that the economy might avoid a recession typically associated with interest rate increases if unemployment remains low.
  7. Market Reaction: Before the release of the ADP report, the Dow Jones Industrial Average and S&P 500 were expected to open higher in Wednesday trades. This indicates that markets may have been optimistic before the news about job growth.

It’s important to keep in mind that economic conditions can change, and various factors contribute to the overall health of the labor market. Monitoring subsequent reports and economic indicators will provide a clearer understanding of the trends and potential implications for businesses and the economy as a whole.

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