ADP Employment Report

The ADP Employment Report showed that there was a gain of 428k jobs in the month of August, which was half of the 900k expected. July’s report was revised higher by 45k from 167k to 212k. Leisure and hospitality led with 129,000 new jobs while education and health services contributed 100,000 and professional and business services grew by 66,000. Construction also added 28,000 and manufacturing was up 9,000. Small businesses added 52k, while large businesses added 298k.