Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Higher wages are needed to alleviate a labor shortage weighing down the U.S. labor market recovery, ADP chief economist Nela Richardson said Wednesday, with wage pressures likely to develop in select industries and locations.
The economy might "need to see some wage increases" to "solve that hiring problem," she told reporters on a post-data briefing, though noted that employers are mostly struggling to find workers in high-contact industries that represent "isolated segments of the labor market." "Overall, we're seeing broad rebounds and gains over the course of the year," she added.
Private sector payrolls rose 742,000 in April, according to ADP's monthly employment report, the strongest since September and mostly driven by payrolls gains in leisure and hospitality, which grew by 237,000. Hourly wages are expected to remain unchanged in the Bureau of Labor Statistics' April jobs report, according to a Bloomberg survey.
Source: ADP Research
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.