The ADP jobs report came out today showing employers in the private sector added 182K jobs in October, narrowly beating estimates. Whereas this employment number is a slight decrease from September's now revised 190K figure, the 182K October number still signals steady growth in the U.S. labor market. This jobs report comes ahead of Friday's much anticipated non-farm payroll report where the markets will look to see if both the public and private labor markets can bounce back from the disappointing 142K mark in August.
"The flurry of vital employment data and its effect will undoubtedly be covered in the numerous Fed speeches this week where FOMC chair Yellen among other key members will discuss the current state of the economy and any implications on a rate change", says Voya Global.
