Private-sector employment increased by 43,000 from September to
October on a seasonally adjusted basis, according to the latest ADP
National Employment Report® released today. 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 -- October Report:
-- Total employment: +43,000
-- Small businesses* +21,000
-- Medium businesses** +24,000
-- Large businesses*** -2,000
-- Goods-producing sector: -34,000
-- Service-providing sector: +77,000
Addendum:
-- Manufacturing industry: -12,000
* 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
Note: All data included in the ADP National Employment Report is based on
size of payroll. In some cases, small and medium-size payrolls belong to
businesses employing more workers than indicated by the size grouping.
According to the ADP Report, employment in the service-providing
sector rose by 77,000 in October, the ninth consecutive monthly
gain. This increase was not enough to offset an employment decline
in the goods-producing sector of 34,000. Construction employment
dropped by 23,000 during October and manufacturing employment
declined 12,000.
"Today's ADP National Employment Report shows that U.S. private
sector employment remains frustratingly stagnant," said Gary C.
Butler, President and Chief Executive Officer of ADP. The new
Congress has a great opportunity to make job creation priority one
by taking actions that both reduce uncertainty across the economy
and incentivize businesses to invest and expand."
According to Joel Prakken, Chairman of Macroeconomic Advisers,
LLC, "Since employment began rising in February, the monthly gain
has averaged 34,000 with a range of -2,000 to +65,000 during the
period. October's figure is within this recent range and is
consistent with the deceleration of economic growth that occurred
in the spring. Employment gains of this magnitude are not
sufficient to lower the unemployment rate. Given modest GDP growth
in the second and thirds quarters, and the usual lag of employment
behind GDP, it would not be surprising to see several more months
of lethargic employment gains, even if the economic recovery
gathers momentum."
"Large businesses, defined as those with 500 or more workers,
decreased by 2,000 while employment among medium-size businesses,
defined as those with between 50 and 499 workers, increased by
24,000. Employment among small-size businesses, defined as those
with fewer than 50 workers, increased by 21,000," said Prakken.
The matched sample used to develop the ADP National Employment
Report was derived from ADP data which, during the twelve-month
period through June 2010, averaged over 340,000 U.S. business
clients and represented over 21 million U.S. employees. This
approximately represents the size of the matched sample used this
month.
Small Business Highlights -- October
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: +21,000
- Goods-producing sector: -16,000 small business jobs
- Service-providing sector: +37,000 small business jobs
*All size data included in the ADP National Employment Report is
based on size of payroll. In some cases, small and medium-size
payrolls belong to businesses employing more workers than indicated
by the size grouping.
Private employment among small businesses increased by 21,000 in
October, 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.
"Small businesses, defined as those with fewer than 50 workers,
saw employment increase by 21,000 during October. Small business
employment has now increased for eight consecutive months, driven
by gains in the service-providing sector," 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 email alerts and RSS feeds, please visit
www.ADPemploymentreport.com. The November 2010 ADP National
Employment Report will be released December 1, 2010 at 8:15 AM
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 June 2010, this subset averaged
over 340,000 U.S. business clients and over 21 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 550,000
clients, is one of the world's largest providers of business
outsourcing solutions. Leveraging over 60 years of experience, ADP
offers a wide 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 website 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 website, www.MacroAdvisers.com.
The ADP Logo, ADP, The ADP National Employment Report and ADP
Small Business Report are registered trademarks of ADP, Inc.
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Sean Healy (212) 453-2438 (201) 218-2039 mobile
Sean.Healy@Fleishman.com
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