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November Jobs Report Could Hold Positive Surprise
CNBC.com | November 30, 2011 | 05:17 PM EST

November's employment picture may prove to be a bit brighter than Wall Street has been expecting.

Economists have been forecasting that a total 125,000 non farm payrolls were added in November , but that number could move higher ahead of Friday's monthly jobs report.

Several economists raised their forecasts and others were giving their numbers another look Wednesday, after ADP's private sector report showed an increase of 206,000.

Economists expect the private sector added a total 150,000 jobs in November, which were offset by layoffs in the public sector. The unemployment rate is expected to hold steady at 9 percent.

Traders turned their attention to the November jobs report after better U.S. data and coordinated central bank action sparked a major stock market rally . "If that jobs report comes in at 150,000, 160,000 or even 200,000, you've got a [more prolonged] rally here," said Dan Greenhaus, global strategist with BTIG.

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  • "It continues to speak to the current economic difficulites—the fact we would celebrate 160,000 jobs, if I'm right. It speaks to the current state of the economy and how low expectations have gotten," Greenhaus said.

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