ADP US November employment +103K vs +130K expected

<ul><li>Prior was +113K (revised to +106K)</li></ul><p>Details:</p><ul><li>small (less than 50 employees) +6K vs +19K prior</li><li>medium firms (500 – 499) +68K vs +78K prior</li><li>large (greater than 499 employees) +33K vs +18K prior</li></ul><p>Changes in pay:</p><ul><li>Job stayers 5.6% vs 5.7% prior</li><li>Job changers 8.3% vs 8.4% prior</li></ul><p>This is a great 'soft landing' report with job growth continuing but not contracting and wage numbers cooling. The US dollar has barely moved on the data.</p><p>"Restaurants and hotels were the biggest job creators during the
post-pandemic recovery. But that boost is behind us, and the return to
trend in leisure and hospitality suggests the economy as a whole will
see more moderate hiring and wage growth in 2024," said Nela Richardson, chief economist at ADP.</p>

This article was written by Adam Button at www.forexlive.com.