Investors are on high alert awaiting the release of the US NFP jobs report which is expected to show slower growth in the first month of 2022.
Revealing some of the economic data that was published this week, ADP private sector employment data showed a weak record in January with a significant contraction.
Not only that, but it was also the first decline in ADP employment changes since December 2004.
This was also followed by the reading of the ISM services employment component index which showed a decline to 52.3 from 54.7 last month, the weakest level since October.
This indirectly gives a bleak shadow to the reading of the NFP data that will be published tonight.
Even so, the number of US jobless claims showed a different figure with a decline and better than expected last week slightly eased investor anxiety.
The U.S. economy is expected to add 110,000 jobs in January, down slightly from a previously recorded reading of 199,000 that had also disappointed the market in December.
Meanwhile, the unemployment rate is projected to remain unchanged at the current level of 3.9%, with wage growth declining slightly to 0.5%from 0.6%.
What are your thoughts on the NFP figures that will be released tonight?
