U.S. Treasury yields were higher on Wednesday as investors awaited further labor data due this week.At 4:28 a.m. ET, the yield on the 10-year Treasury was higher by nearly three basis points to 4.2478%. Meanwhile, the 2-year Treasury yield rose by more than one basis point to 4.1814%.One basis point is equal to 0.01% and yields and prices move in opposite directions.Investors are expecting more labor data this week with the ADP Employment Change report for November due to be published on Wednesday.The report shows a measure of private sector job growth in the U.S. and is estimated to show growth of 163,000 positions compared to the previous month, per economists polled by Dow Jones.This comes after the JOLTS job openings report published on Tuesday showed that 7.74 million job openings were posted in October, up from September, and beating Dow Jones estimates of 7.5 million.Investors are keenly awaiting the November jobs report which will be published on Friday — the key economic release due this week. It’s expected to show that the U.S. economy added 214,000 jobs last month according to economists polled by Dow Jones, an increase from 12,000 jobs in October. The unemployment rate is estimated to be 4.2%, up from 4.1% the prior month.The jobs report is important because it will be the final insight into the labor market before the Fed’s Dec. 17-18 meeting where officials will decide on whether to cut or hold interest rates.Federal Reserve Chairman Jerome Powell will also be giving a speech in New York in a moderated discussion on Wednesday, which investors will monitor closely for clues about interest rate policy.Elsewhere, French lawmakers will hold a vote of no confidence in the fragile minority government of Prime Minister Michael Barnier on Wednesday, which is expected to pass.