US April ADP employment +192K vs +175K expected

• Prior was +184K (revised to 208K)
• Goods producing +47K
• Service providing +145K

The median change in annual pay:

• Job stayers 5.0% versus 5.1% last month
• Job changers 9.3% versus 10.1% last month

Hiring was broad-based in April,” said Nela Richardson, chief economist, ADP. “Only the information
sector – telecommunications, media, and information technology – showed weakness, posting job losses
and the smallest pace of pay gains since August 2021.”

This is the highest reading since July (excluding the revision) but the reaction in the FX market was muted.

This article was written by Adam Button at www.forexlive.com.