ADP reported 143,000 new jobs added in September, higher than the expected 120,000.
Prior was +99K (revised to +103K)Annual pay growth for job-stayers 4.7% vs 4.8% priorJob-changers' pay gains 6.6% vs 7.3% priorServices +101K vs +72K priorGoods +42K vs +27K priorThere was strength in construction, education and leisure/hospitalityUSD/JPY is at the highs of the day after this report, breaking 145.00 and up nearly 150 pips on the day. Bonds are also selling off and at the lows of the day as the focus shifts from the Middle East to the US economy.“Stronger hiring didn't require stronger pay growth last month,” said Nela Richardson, chief economist,ADP. “Typically, workers who change jobs see faster pay growth. But their premium over job-stayersshrank to 1.9 percent, matching a low we last saw in January.”Details:Natural resources/mining 14,000Construction 26,000Manufacturing 2,000Trade/transportation/utilities 14,000 Information -10,000Financial activities 2,000 Professional/business services 20,000 Education/health services 24,000 Leisure/hospitality 34,000 Other services 17,000 This article was written by Adam Button at www.forexlive.com.