ADP Nonfarm Employment Change: Actual: 41K; forecast 49K; previous -32K
"Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment. And while November's slowdown was broad-based, it was led by a pullback among small businesses" - ADP economist reports.
Lower-than-expected ADP survey data focused on the US labor market is worse than expected. Lower employment growth reduces the chances of the Fed maintaining its conservative monetary policy, which strengthens sentiment around stocks.
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