BREAKING: ADP showed a huge 20 million fall.

Private businesses in the US fired  20 236k  workers in April of 2020, from -27k in the prior month. Analysts’ has expected a reading to show a loss of  -20000k. Prior month figure has been revised to -149K vs -27K.
• small (less than 50 employees)  fired 6 million employees
• median businesses (50 to 499 employees) – fired 5.3 million employees
• large businesses greater than 500 employees –fired 9 million employees

 

It is the biggest decline ever recorded, due to the coronavirus pandemic and restrictions imposed.

 

The ADP reading come ahead of the  Thursday’s jobless claims report and Nonfarm payrolls report for April on Friday which is expected to show the worst of the impact on the labor market.

EUR/USD  -  today's ADP Non-Farm Employment data did not have a significant impact on the EURUSD, which  continues its sideways movement between 1.0837 resistance and 1.0770 support level. US stock indices trade  slightly lower based on today's data. Source: xStation5

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