News 1

Last month, U.S. private employment indicators fell far short of market expectations.

On the 3rd (local time), according to the Automatic Data Processing (ADP) employment report, U.S. nonfarm employment decreased by 32,000 compared with the previous month. This is 37,000 below the experts' forecast (5,000). Compared with the revised October figure (47,000), it is 79,000 fewer.

The ADP employment report is typically released two days ahead of the U.S. Department of Labor's Bureau of Labor Statistics (BLS) employment report and is regarded as a kind of 'preview.' However, it does not always align directionally with the government's official statistics.

The market paid attention to this ADP employment report because the recent U.S. federal government shutdown (temporary suspension of operations) disrupted labor market surveys. Markets see the ADP employment indicator as potentially acting as a key variable for the December Federal Open Market Committee (FOMC).

Meanwhile, the U.S. Bureau of Labor Statistics plans to release the November employment report on the 16th of this month.