Indicator analysis: Weak ADP jobs data defies expectations

ForexNewsNow | Published on October 6, 2010 at 12:31 pm

Indicator analysis - workers queingNEW YORK (Forex News Now) – The U.S. private sector unexpectedly shed jobs in September, the payroll processing company ADP said in a report on Wednesday in one of the day’s spotlight realtime forex news events.

In a report that was scrutinized by FX traders, ADP, the world’s largest company of its kind, said private U.S. employers shed 39,000 jobs during the month, after adding a revised 10,000 in August.

Analysts had expected the data to show an increase of 23,000 new jobs, according to two currency market trading news outlets.

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