U.S. non-farm private employment rose at the strongest pace in two years in December, fuelling optimism 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 238,000 last month, easily surpassing expectations for an increase of 200,000. November’s figure was revised up to a gain of 229,000 from a previously reported increase of 215,000.
While not viewed as a reliable guide for the government jobs report due on Friday, January 10, it does give guidance on private-sector hiring.
Following the release of the data, the U.S. dollar added to gains against the euro to trade higher, with EUR/USD shedding 0.3% to trade at 1.3574, compared to 1.3595 ahead of the data.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.15% at the open, S&P 500 futures pointed to a drop of 0.15%, while the Nasdaq 100 futures indicated a decline of 0.1%.
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