U.S. Private Sector Tacks on 215K Jobs in November

Economic IndicatorsReuters

U.S. private employers added 215,000 jobs in November, topping economists' expectations, a report by a payrolls processor showed on Wednesday, reinforcing expectations the Federal Reserve may soon begin to wind down its asset purchases.

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Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 173,000 jobs. The high end of the estimates was 205,000.

October's number was revised to 184,000 from the initially reported 130,000.

The U.S. 10-year Treasury yield <US10YT=RR> hit its highest level since mid-September after the data, while U.S. stock index futures <SPc1> extended losses. The dollar posted gains versus the euro <EUR=> and yen <JPY=>.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a increase of 180,000 in overall non-farm payrolls based on a Reuters poll of analysts, and a rise in private payrolls of also 180,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

The report is jointly developed with Moody's Analytics.

(Reporting by Rodrigo Campos; Editing by Meredith Mazzilli)

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