According to today's ADP National Employment Report®, private
sector employment decreased by 22,000 in January. The ADP National
Employment Report, created by 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: -22,000
-- Small businesses* -12,000
-- Medium businesses** 9,000
-- Large businesses*** -19,000
-- Goods-producing sector: -60,000
-- Service-providing sector: +38,000
Addendum:
-- Manufacturing industry: -25,000
* 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 22,000 from December
2009 to January 2010 on a seasonally adjusted basis, according to
the ADP National Employment Report. The January employment decline
was the smallest since employment began falling in February of
2008. Growth of overall private employment is on the verge of
turning positive."
Prakken added, "January's ADP Report estimates nonfarm private
employment in the service-providing sector increased by 38,000, the
second consecutive monthly increase. However, this employment
growth was not enough to offset continued losses in the
goods-producing sector. Employment in the goods-producing sector
declined 60,000, with employment in the manufacturing sector
dropping 25,000. The employment decline in the manufacturing sector
was the lowest since January of 2008."
"Large businesses, defined as those with 500 or more workers,
saw employment decline by 19,000 while small-size businesses with
fewer than 50 workers, declined 12,000. Employment among
medium-size businesses, defined as those with between 50 and 499
workers, increased by 9,000, the first increase in employment since
January of 2008," said Prakken.
Prakken went on to say, "In January, construction employment
dropped 37,000. This drop marks the third straight year of
consecutive monthly employment declines and brings the total
decline in construction jobs since the peak in January 2007 to
1,804,000."
The matched sample used to develop the ADP National Employment
Report was derived from ADP data, which during the twelve month
period through December 2009, averaged over 360,000 U.S. business
clients and represented over 22 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 3, 2010, 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 2008 to March 2009. |
| -- 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: -12,000
-- Goods-producing sector: -28,000 small business jobs
-- Service-providing sector: +16,000 small business jobs
Private employment among small businesses decreased by 12,000 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 12,000 in January. This decline was
the smallest since July of 2008. Small business employment in the
service-providing sector increased by 16,000, the second
consecutive monthly increase," 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 2010 ADP National
Employment Report will be released March 3, 2010 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 twelve month period
through December 2009, this subset averaged over 360,000 U.S.
business clients and over 22 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://ADPemploymentreport.com/methodology.aspx.
About ADP
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9
billion in revenues and about 570,000 clients, is one of the
world's largest providers of business outsourcing solutions.
Leveraging 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 and ADP Small Business Report
are registered trademarks of ADP, Inc.
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Media Contacts: ADP Public Relations ADP (973) 974-7612
Public_Relations@adp.com Rhena Wallace Cohn & Wolfe for ADP
(212) 798-9832 rhena.wallace@cohnwolfe.com
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