WildTigerTwirl| ADP data was better than expected, but not enough to affect the Fed

Gelonghui May 1| U.S. ADP employment added 19 percent in AprilWildTigerTwirl.20,000WildTigerTwirlAt the same time, the March data was revised up to 208,000. Strong hiring was widespread, with the leisure and hospitality industries particularly strong, with an increase of 56,000. Salary growth for those who changed jobs fell to 9.3% year-on-year from 10.1%. That's a move in the right direction, but still above January's 7.3% year-on-year increase. The salary of those who stayed in office increased by 5% year-on-year, slightly lower than in March. At least wage growth for people who change jobs has slowed, which is a small comfort to the Fed, but not enough to inspire the central bank to change its strategy.