ADP, a company specializing in payroll processing, reported on Wednesday that private-sector job creation in the U.S. last month beat expectations, pointing to continued labor market strength. Economists polled by Reuters had forecast 150,000 jobs, but the actual figure came in at 176,000. This report is a key indicator for the Federal Reserve as it makes decisions on interest rates. While the data suggests a strong economy, it also raises concerns about the potential for rates to stay high for the foreseeable future.
