According to today's ADP National Employment Report�, private
sector employment decreased by 522,000 in January. The ADP National
Employment Report, created by ADP� Employer Services, a division of
Automatic Data Processing, Inc. (ADP), in partnership with
Macroeconomic Advisers, LLC, is derived from actual payroll data
and measures the change in total nonfarm private employment each
month.
Nonfarm Private Employment Highlights - January Report:
-- Total employment: -522,000
-- Small businesses* -175,000
-- Medium businesses** -255,000
-- Large businesses*** -92,000
-- Goods-producing sector: -243,000
-- Service-providing sector: -279,000
Addendum:
-- Manufacturing industry: -160,000
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
According to Joel Prakken, Chairman of Macroeconomic Advisers,
LLC, "Nonfarm private employment decreased 522,000 from December
2008 to January 2009 on a seasonally adjusted basis, according to
the ADP National Employment Report."
Prakken added, "January's ADP Report estimates nonfarm private
employment in the service-providing sector fell by 279,000.
Employment in the goods-producing sector declined 243,000, the
twenty-fourth consecutive monthly decline. Employment in the
manufacturing sector declined 160,000, its twenty-eighth decline
over the last twenty-nine months."
"Large businesses, defined as those with 500 or more workers,
saw employment decline 92,000, while medium-size businesses with
between 50 and 499 workers declined 255,000. Employment among
small-size businesses, defined as those with fewer than 50 workers,
declined 175,000. Sharply falling employment at medium- and
small-size businesses clearly indicates that the recession
continues to spread well beyond manufacturing and housing-related
activities," said Prakken.
Prakken went on to say, "In January, construction employment
dropped 83,000. This was its twenty-second consecutive monthly
decline, and brings the total decline in construction jobs since
the peak in January 2007 to 923,000."
The matched sample used to develop the ADP National Employment
Report was derived from ADP data which, during the last six months
of 2008, averaged approximately 400,000 payrolls representing
nearly 24 million U.S. employees. This approximately represents the
size of the matched sample used this month.
+------------------------------------------------------------------------+
| Notice of Intent to Make Annual Revisions to the ADP National |
| Employment Report� |
| |
|On March 4, 2009, Automatic Data Processing, Inc., in conjunction with |
|Macroeconomic Advisers, LLC, will publish annual revisions of the |
|estimates of employment shown in the ADP National Employment Report. |
|These revisions will reflect: |
| |
| -- Updated regression estimates used to adjust for historical |
| differences in the variances of the monthly growth rates of |
| employment reported by the Bureau of Labor Statistics and computed |
| from ADP data. |
| -- Updated estimates of the differences in the historical averages of |
| the growth rates of employment reported by the Bureau of Labor |
| Statistics and computed from ADP data. |
| -- Updated estimates of historical seasonal factors. |
| -- The reference month for establishing the levels of employment shown |
| in the ADP National Employment Report will be advanced from March |
| 2007 to March 2008. |
| -- There are no revisions to the methodology of computing the estimates|
| of employment shown in the ADP National Employment Report. |
+------------------------------------------------------------------------+
Small Business Highlights - January Report:
Due to the important contribution small businesses make to
economic growth, employment data that is specific to businesses
with fewer than 50 employees will be reported in the ADP Small
Business Report� each month. The ADP Small Business Report is a
subset of the ADP National Employment Report.
-- Total small business employment: -175,000
-- Goods-producing sector: -74,000 small business jobs
-- Service-providing sector: -101,000 small business jobs
Private employment among small businesses decreased by 175,000
in January, according to the ADP Small Business Report released
today. Additional information about small business employment,
including charts on monthly job growth and employment levels, along
with historical data, is available at
http://www.smallbusinessreport.adp.com.
"Employment among small-size businesses, defined as those with
fewer than 50 workers, declined 175,000. This employment decline
clearly indicates that the recession has widened to include
businesses of all sizes. Though small-size businesses were somewhat
more resilient than larger ones earlier in 2008, both small-sized
goods-producing and service-providing businesses are now
experiencing sizable job losses, " said Joel Prakken.
To obtain additional information about the ADP National
Employment Report, including additional charts, supporting data and
the schedule of future release dates, or to subscribe to the
monthly e-mail alerts and RSS feeds, please visit
www.ADPemploymentreport.com. The February 2009 ADP National
Employment Report will be released on Wednesday, March 4, 2009 at
8:15 a.m. ET.
About the ADP National Employment Report�
The ADP National Employment Report, sponsored by ADP�, was
developed and is maintained by Macroeconomic Advisers, LLC. It is a
measure of employment derived from an anonymous subset of roughly
500,000 U.S. business clients. During the last six months of 2008,
this subset represented approximately 400,000 U.S. business clients
and nearly 24 million U.S. employees working in all private
industrial sectors. The ADP Small Business Report� is a monthly
estimate of private nonfarm employment among companies in the
United States with 1-49 employees and is a subset of the ADP
National Employment Report. The data for both reports is collected
for pay periods that can be interpolated to include the week of the
12th of each month, and processed with statistical methodologies
similar to those used by the U.S. Bureau of Labor Statistics to
compute employment from its monthly survey of establishments. Due
to this processing, this subset is modified to make it indicative
of national employment levels; therefore, the resulting employment
changes computed for the ADP National Employment Report are not
representative of changes in ADP's total base of U.S. business
clients.
For a description of the underlying data and the statistical
properties of the series, please see "ADP National Employment
Report: Development Methodology" at http://ADPemployment
report.com/methodology.aspx.
About ADP
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9
billion in revenues and over 585,000 clients, is one of the world's
largest providers of business outsourcing solutions. Leveraging
nearly 60 years of experience, ADP offers the widest range of HR,
payroll, tax and benefits administration solutions from a single
source. ADP's easy-to-use solutions for employers provide superior
value to companies of all types and sizes. ADP is also a leading
provider of integrated computing solutions to auto, truck,
motorcycle, marine and recreational vehicle dealers throughout the
world. For more information about ADP or to contact a local ADP
sales office, reach us at 1.800.225.5237 or visit the company's Web
site at www.ADP.com.
About Macroeconomic Advisers, LLC
Macroeconomic Advisers, LLC (MA) has been the most trusted
source for U.S. macroeconomic forecasts and commentary, monetary
and fiscal policy analysis, and econometric modeling for 25 years.
MA's clients include leading financial service firms, nonfinancial
corporations, key policymaking agencies of the U.S. government, as
well as State and Foreign Government agencies. Additional
information on Macroeconomic Advisers, LLC is available on the
company's Web site, www.MacroAdvisers.com.
The ADP National Employment Report is a registered trademark of
ADP of North America, Inc.
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Media Contacts: ADP Public Relations ADP (973) 974-7612
Public_Relations@adp.com Zach Siegel Cohn & Wolfe for ADP (212)
537-8102 Zach_Siegel@CohnWolfe.com
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