ADP Nonfarm Employment Change (May): +152K vs + 173K Est.
Portfolio Pulse from Benzinga Newsdesk
The ADP Nonfarm Employment Change for May reported an increase of 152,000 jobs, falling short of the estimated 173,000 jobs.
June 05, 2024 | 12:15 pm
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The ADP Nonfarm Employment Change for May reported an increase of 152,000 jobs, which is below the estimated 173,000 jobs. This could indicate a slower-than-expected economic growth, potentially impacting the SPY ETF.
The SPY ETF, which tracks the S&P 500, could be impacted by the lower-than-expected job growth as it may signal slower economic growth. Investors might react negatively to this news, leading to potential short-term volatility in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80