ADP Jobs report handily beats expectations, bodes well for Friday’s payroll report

The ADP jobs report was released today showing employers in the private sector added 217K jobs in November, thoroughly beating estimates and last month's 196K figure. This ADP report previews Friday's much anticipated Labor Department employment report, the final jobs report before the Fed's December meeting.

"The recent employment data will be discussed in the numerous Fed speeches this week where Fed Chair Janet Yellen along with Vice Chairman Fischer and Governor Brainard will cover the current state of the economy as well as the possibility of a widely expected December rate increase. Furthermore the FOMC will highlight how they will approach the pace of future rate hikes once liftoff takes place", notes Voya Global.