In the month of employment report for the private sector in the United States unexpectedly showed a reduction in workers in December due to the uncontrolled transmission of Covid-19 forced the government to impose business restrictions that make business types such as restaurants, bars and some types of services had to close.
However, economic players have to some extent been able to adapt to the situation and have added 174,000 new jobs in January.
Private Payrolls have shown better performance, beating the estimates of economists. If in December by 123 000 has been reduced, now in January even recorded a surplus of 174,000 based on the ADP National Employment Report released just now.
On the other hand, economists even predict that private sector workers will increase by 50,000 in January.
The report reflects that the labor market has managed to continue its recovery albeit slowly amid an increasingly alarming Covid-19 outbreak.
Profit in the business, services, health and other sectors has been a major factor driving employment in private companies. However, the entertainment and hospitality industry continues to be affected.
The market is now starting to focus on the NFP data that will be released this Friday. Experts predict employment will increase by 62,000. The unemployment rate remained stable at 6.7%.
The US dollar index strengthened 0.16% against major currencies to the exchange rate of 91.183 as of 9.50 p.m.
