psaTrading
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The ADP report showed that the private sector created 217,000 jobs in November, beating expectations for 190,000. The creation of jobs relative to October was revised upwards from 182,000 to 196,000. In these two months, the main driver of employment were small and medium enterprises focused on services. Although the correlation between this indicator and the official employment report (to be published on Friday) is not high, it is likely that the latter shows that the labor market remains dynamic. If this scenario is confirmed, the last obstacle to a rise in benchmark rates at this December meeting may have been removed.