ADP Employment Change 4-week average climbs to 11.5K through December 6
Employment in the United States (US) private sector expanded once again, with companies adding an average of 11,500 jobs per week in the four weeks ending December 6, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER) released on Tuesday.

Employment in the United States (US) private sector expanded once again, with companies adding an average of 11,500 jobs per week in the four weeks ending December 6, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report (NER) released on Tuesday.

While job growth slowed from an upwardly revised 17,500 the prior week, hiring remained in positive territory for a third week, the report stated.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.30% -0.37% -0.62% -0.41% -0.65% -0.81% -0.57%
EUR 0.30% -0.07% -0.33% -0.12% -0.35% -0.52% -0.27%
GBP 0.37% 0.07% -0.25% -0.05% -0.28% -0.45% -0.20%
JPY 0.62% 0.33% 0.25% 0.20% -0.01% -0.22% 0.07%
CAD 0.41% 0.12% 0.05% -0.20% -0.21% -0.41% -0.14%
AUD 0.65% 0.35% 0.28% 0.01% 0.21% -0.17% 0.09%
NZD 0.81% 0.52% 0.45% 0.22% 0.41% 0.17% 0.25%
CHF 0.57% 0.27% 0.20% -0.07% 0.14% -0.09% -0.25%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Market reaction

The US Dollar (USD) remains under selling pressure, hovering around the 97.90 level as gauged by the US Dollar Index (DXY), as investors await the release of the preliminary estimate of the US Q3 Gross Domestic Product (GDP).


Employment FAQs

Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency. Moreover, a very tight labor market – a situation in which there is a shortage of workers to fill open positions – can also have implications on inflation levels and thus monetary policy as low labor supply and high demand leads to higher wages.

The pace at which salaries are growing in an economy is key for policymakers. High wage growth means that households have more money to spend, usually leading to price increases in consumer goods. In contrast to more volatile sources of inflation such as energy prices, wage growth is seen as a key component of underlying and persisting inflation as salary increases are unlikely to be undone. Central banks around the world pay close attention to wage growth data when deciding on monetary policy.

The weight that each central bank assigns to labor market conditions depends on its objectives. Some central banks explicitly have mandates related to the labor market beyond controlling inflation levels. The US Federal Reserve (Fed), for example, has the dual mandate of promoting maximum employment and stable prices. Meanwhile, the European Central Bank’s (ECB) sole mandate is to keep inflation under control. Still, and despite whatever mandates they have, labor market conditions are an important factor for policymakers given its significance as a gauge of the health of the economy and their direct relationship to inflation.


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