August ADP Employment Misses Estimates, Futures Stable

The August ADP employment report was just released, and it came in lower than expected, but futures are still higher this morning. ADP reported that 91,000 jobs were created during the month of August, compared to estimates of 100,000 jobs being created. Further breaking it down, 58,000 jobs were added for small businesses (0-50 employees), 30,000 jobs were added for medium-sized businesses, and 3,000 jobs were added for large businesses. The July jobs report was revised lower, to 109,000 from 114,000. Futures are higher after the report. Dow futures are up 90 points, NASDAQ futures are up 19.25 points, and S&P 500 futures are up 10.50 points.