American job growth and worker productivity seem to have climbed steeply last month, but the better-than-expected news probably won't dissuade Federal Reserve policymakers from pushing down interest rates next week to ensure the U.S. economy stays out of recession.
An analysis of payroll data released on Wednesday showed an increase in private-sector employment of 189,000 during November, significantly above market expecations. The analysis, which was performed by Macroeconomic Advisers, used payroll data from Automatic Data Processing (nyse: ADP - news - people )'s clients. The number was more than twice the 65,000 rise expected by analysts.
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