ADP Non-Farm Employment Change

Specifies the change in the level of those hired over the past month, excluding those hired in the agricultural sector
This indicator is published two days before the publication of the ADP employment report on the official office of human resources statistics, which provides solutions in the field of employment for companies.
Private firms in the US unexpectedly created 242,000 jobs in February of 2023, well above the upwardly revised 119,000 in January and market expectations of 200,000. The services sector added 190 thousand jobs, led by entertainment and hospitality (83 thousand), financial activities (62 thousand), education / health services (35 thousand), information (9 thousand), trade / transport and utilities (3 thousand) while the professional industry / Commercial 36 thousand jobs. Meanwhile, the commodity-producing industry added 52k jobs due to manufacturing (43k) and mining (25k) while construction lost 16k. Large organizations created 160,000 jobs and medium enterprises 148,000 while small businesses shed 61,000 jobs, a downward trend seen since August 2022. Annual wage growth for those who remained employed slowed slightly to 7.2%, the slowest in 12 months, from 7.3% in january. ADP noted that there is a trade-off in the labor market at the moment as employment remains strong but wage growth remains very high.

Outlook for today's statement and how it will affect the currency

Expectations for today's statement are 208 thousand
In the event that the data was issued in numbers higher than expectations, this positively affects the currency and vice versa

The timing of the statement

The statement will be issued at 3:15 pm Mecca Al-Mukarramah time