Automatic Data Processing, Inc. released its assessment of job growth in the private sector of the United States. The numbers were released far greater than what many analysts had expected, indicating a boom in private employment growth across a nation befuddled by structural employment deficits.
Fear that Congress will fail to lift the debt ceiling, sending the nation into a potential second collapse, has several economists worried that businesses will be reluctant to hire. Forecasts for this month’s employment data were still for a near-doubling of last month’s reading, but the surprise jump to 157,000 new jobs added in the private sector gave a moment of pause for pessimists who doubted America’s resurgence would happen so quickly.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
