The United States Labor Market (a.s) shows no signs of receding. The total private sector salary increased by about 242,000 from the month to mid-February, based on the ADP report recently.
The latest data shows that about 40,000 private jobs or 20% exceeds expectations and this number also doubles compared to January data recording 119,000 jobs (numbers are also reviewed higher than preliminary estimates).
These figures are further evidence that the economy is far from the expected recession despite the sharp interest rate rising last year by the Federal Reserve.
Economic data that has been published in recent years including inflation data has all been expected than the end of last year. The data has prompted the Federal Reserve Chairman Jerome Powell to issue a warning that the central bank may return to a larger rise in its efforts to tame inflation, after slowing down the tightening rate at its last two policy meetings.
"We see strong hiring, good for the economy and workers, but pay growth remains high," ADP Economic Chief Nela Richardson said in a statement, adding that "moderate moisture in pay increases, in itself, it is unlikely to reduce inflation quickly in the near future. ”
The US dollar index that strengthened the US dollar compared to the six major currencies traded 0.06% to a 105.657 trading level.
