ADP Jobs: Down 250,000 in November

The ADP jobs report, a private report issued monthly two days before the BLS report issued by the U.S. government's NFP report, shows that employment declined in the United States by 250,000 during November. Unlike the U.S. government figure, the ADP only includes private sector jobs. It suggests that perhaps Friday's NFP figure may also disappoint to the downside. The figure was a larger drop than expected, and stock index futures are moving somewhat lower as a result. However, despite the lower open, the futures don't appear to me to be powerfully down.