ADP (ADP) Employment Report Shows Unexpected Growth

The ADP employment report for July rose unexpectedly: +9,000 jobs versus the consensus of a loss of 60,000. This was a dramatic improvement improving from the revised 77,000 loss in June.

The three-month average moved to -14,000. Job losses in construction came in at 16,000, which was one of the smallest declines in the industry in recent months.

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