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.
U.S. hiring has finally made a transition from "exceptional to sustainable" in August, ADP chief economist Nela Richardson said Wednesday after the ADP Employment Report showed a gain of 177,000 new private payrolls last month, slowing markedly from 371,000 in July and coming in line with the pre-pandemic pace.
Wage growth also decelerated in August, with job changers seeing a median change in annual pay of 9.5%, below 10% for the first time since July 2021, and job stayers saw an increase of 5.9%.
"I think of the wages as a bridge between the labor market and inflation. Now that bridge is showing a more moderated pace of pay growth that points to a slowdown in inflation," Richardson told reporters on a call.
Source: ADP (https://payinsights.adp.com/)
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.