The ADP employment survey blew estimates out of the water. 206,000 jobs were added in November according to ADP, beating an estimate of 125,000. This continues a clear trend of job growth in the US. Not every week brings great news like this, but the trend persists.
(graph from
Bloomberg)
Of course, just as we caution people not to overreact to any single item of bad news, over reacting to a single item of good news is just as bad. The overall trend, however, should be kept in mind and should assuage fears next time the news turns dramatic.
