A day of hiring for a Green District restaurant in Louisville
WASHINGTON (Reuters) – The private sector in the United States created more jobs than expected in June, the ADP monthly survey showed on Thursday, a sign that the labor market remains buoyant despite the continued rise in interest rates. interest that could cause a recession.
The ADP survey lists 497,000 job creations, the highest level since February 2022.
Economists polled by Reuters predicted an average of 228,000, while estimates ranged between 95,000 and 334,000 job creations.
ADP has revised down the results of the May survey, which now show 267,000 jobs created while the initial results showed 278,000.
After the publication of this survey, futures on the three main indices on Wall Street increased their losses, falling from 0.6% to 0.7%, while US bond yields rose further, the 10 years taking 5, 8 basis points, to 4.003%.
The US Federal Reserve (Fed) has raised its interest rates by a total of 500 basis points since March 2022, the fastest pace in more than forty years, thus bringing the “fed funds” target to 5.00 %-5.25%.
The US Department’s official monthly jobs report will be released on Friday.
(Report Lucia Mutikani; French version Claude Chendjou, edited by Blandine Hénault)
2023-07-06 13:56:08
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