Early Indications From This June's ADP Data Make The Market More Divided!

<p>&nbsp;U.S. private employment data jumped at a faster pace in June amid policymakers paying close attention to the country's labor market ahead of a key interest rate decision.</p><p><br /></p><p>Private employment data rose by 497,000 jobs last month based on Thursday's ADP National Employment data, up from a downwardly revised 267,000 in May. Economists had expected the reading to rise by 228,000.</p><p><br /></p><p><br /></p><p>The figure comes ahead of Friday's release of a more comprehensive and closely watched Labor Department jobs report for June. The US economy is expected to add 225,000 jobs in the month, down from 339,000 in May.</p><p><br /></p><p>The market will likely watch for signs that the job market is easing to help ease inflationary pressures while still being tight enough to keep unemployment from rising.</p><p><br /></p><p>Based on the minutes of the Federal Open Market Committee's latest meeting, officials noted that the labor market remains "tight" and that "upward risks" to inflation remain a key factor in their outlook for the broader economy. The minutes indicate that "virtually all" Fed officials believe that further increases in borrowing costs may be necessary to address these concerns.</p>