The number: This is well ahead of expectations, and nicely above last month, and October was revised up sharply. It would be shocking, now, to see a weak jobs report this Friday.
Small biz added 54K. The goods-producing sector added jobs for the first time in ages.
This doesn’t necessarily cancel out the layoffs news from the Challenger report, which emphasised big layoffs at the public sector level.
Background: This is just a little amuse-bouche ahead of Friday’s big jobs report. It only covers the private sector, so woes at the government level, aren’t picked up. Analysts are looking for a gain of 58K compared to gains of 43K last month. It’s all more about direction than actual number.
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