According to today's ADP National Employment Reportďż˝, private
sector employment decreased by 473,000 in June. The ADP National
Employment Report, created by ADPďż˝ 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 - June Report:
-- Total employment: -473,000
-- Small businesses* -177,000
-- Medium businesses** -205,000
-- Large businesses*** -91,000
-- Goods-producing sector: -250,000
-- Service-providing sector: -223,000
Addendum:
-- Manufacturing industry: -146,000
* 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 473,000 from May to June
2009 on a seasonally adjusted basis, according to the ADP National
Employment Report. Monthly employment losses in April, May, and
June averaged 492,000. This is a notable improvement over the first
three months of the year, when monthly losses averaged 691,000.
Nevertheless, despite some recent indications that economic
activity is stabilizing, employment, which usually trails overall
economic activity, is likely to decline for at least several more
months, although perhaps not as rapidly as during the last six
months."
Prakken added, "June's ADP Report estimates nonfarm private
employment in the service-providing sector fell by 223,000.
Employment in the goods-producing sector declined 250,000, with
employment in the manufacturing sector dropping 146,000, its
fortieth consecutive monthly decline."
"Large businesses, defined as those with 500 or more workers,
saw employment decline by 91,000, while medium-size businesses with
between 50 and 499 workers declined 205,000. Employment among
small-size businesses, defined as those with fewer than 50 workers,
declined 177,000," said Prakken.
Prakken went on to say, "In June, construction employment
dropped 97,000. This was its twenty-ninth consecutive monthly
decline, and brings the total decline in construction jobs since
the peak in January 2007 to 1,428,000. Employment in the financial
services sector dropped 29,000, the nineteenth consecutive monthly
decline."
The matched sample used to develop the ADP National Employment
Report was derived from ADP data, which during the twelve month
period through June 2009, averaged approximately 400,000 U.S.
business clients and represented over 23 million U.S. employees.
This approximately represents the size of the matched sample used
this month.
Small Business Highlights -- June 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 Reportďż˝ each month. The ADP Small Business Report is a
subset of the ADP National Employment Report.
-- Total small business employment: -177,000
-- Goods-producing sector: -90,000 small business jobs
-- Service-providing sector: -87,000 small business jobs
Private employment among small businesses decreased by 177,000
in June, 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 177,000 in June. Monthly employment
losses in April, May, and June averaged 185,000. Despite a notable
improvement over the first three months of the year, when monthly
losses averaged 260,000, employment among small-size businesses is
likely to decline for at least several more months. Since reaching
peak employment in January 2008, small-size businesses have shed
nearly 2.3 million jobs," 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 July 2009 ADP National Employment
Report will be released on Wednesday, August 5, 2009 at 8:15 a.m.
ET.
About the ADP National Employment Reportďż˝
The ADP National Employment Report, sponsored by ADPďż˝, 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 twelve month period
through June 2009, this subset averaged approximately 400,000 U.S.
business clients and over 23 million U.S. employees working in all
private industrial sectors. The ADP Small Business Reportďż˝ 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://ADPemploymentreport.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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