Investing.com - U.S. non-farm private employment rose less-than-expected in January, fuelling concern over the U.S. labor market, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 175,000 last month, below expectations for an increase of 180,000. December’s figure was revised down to a gain of 227,000 from a previously reported increase of 238,000.
While not viewed as a reliable guide for the government jobs report due on Friday, February 7, it does give guidance on private-sector hiring.
Following the release of the data, the U.S. dollar trimmed losses against the euro to trade higher, with EUR/USD rising 0.16% to trade at 1.3539, compared to 1.3547 ahead of the data.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.4% at the open, S&P 500 futures pointed to a drop of 0.6%, while the Nasdaq 100 futures indicated a decline of 0.45%.