FXstreet.com (Barcelona) - US nonfarm private employment declined by 84,000 jobs in the month of December, marking the eight straight month of a decreasing rate of job destruction.
According to the authors of the ADP National Employment Report, employment losses are now rapidly diminishing and, if recent trends continue, private employment will begin rising within
the next few months.
Despite the improvement over the 145,000 jobs lost in November (revised up from -169,000), December's slowdown was still less than forecast. Analysts had expected a better improvement in the range of 63,000 jobs lost.
The ADP report is seen as a forecast of the official US employment figures issued by the US government.
As for the report's preliminary impact on the markets, U.S. futures are falling while gold spiked to the upside (…) first spike across the board sent the dollar lower, against most rivals, as the reading is worse than expected despite better than previous month, said Valeria Bednarik, independent collaborator of FXstreet.com.