The numbers: Private payrolls rose by 534,000 in November, according to the ADP National Economic Report released Wednesday.
Economists polled by the Wall Street Journal had forecast a gain of 506,000 private-sector jobs in November.
The ADP report is produced with Moody’s Analytics.
Big picture: The data may offer a preview of the Labor Department’s monthly employment report to be released Friday. Economists are forecasting another strong job report in November. According to the Wall Street Journal survey, economists anticipate a gain of 573,000 jobs last month after 531,000 jobs were added in October. The unemployment rate is expected to inch lower to 4.5% from 4.6% in the prior month.
Market reaction: Stocks
DJIA,
SPX,
were expected to open higher on Wednesday after a selloff in the prior day’s trading session triggered by expectations of a faster Federal Reserve taper.
This post was originally published on Market Watch
