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US private employers create fewer than estimate jobs in August

US private employers create fewer than estimate jobs in August

U.S. private employers created 428,000 jobs in August, clawing back to peak in jobs in February, according to the ADP non-farm employment report released on Wednesday.

Analysts had predicted a job creation pace of 1,250,000 after a revised 212,000 jobs in July.

As known, this report is carefully watched as it provides clues about the health of the labor market ahead of Friday’s non-farm payrolls figures.

The government NFP may show the U.S. created 1,385,000 jobs last month, while the unemployment rate retreated to 10.1 percent from 10.9 percent.  

As of 13:41 GMT, the dollar traded higher at 92.64 compared to the session’s open at 92.23, resuming its rebound from two-year low hit on Monday.

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