ROSELAND, N.J., March 7, 2018 /PRNewswire/ -- Private sector
employment increased by 235,000 jobs from January to February
according to the February ADP National Employment
Report®. Broadly distributed to the public
each month, free of charge, the ADP National Employment
Report is produced by the ADP Research Institute® in
collaboration with Moody's Analytics. The report, which is
derived from ADP's actual payroll data, measures the change in
total nonfarm private employment each month on a
seasonally-adjusted basis.
February 2018 Report
Highlights*
View the ADP National Employment
Report Infographic at www.adpemploymentreport.com.
Total U.S. Nonfarm Private Employment: 235,000
By Company Size
- Small businesses: 68,000
-
- 1-19 employees: 27,000
- 20-49 employees: 41,000
- Medium businesses: 97,000
-
- Large businesses: 70,000
-
- 500-999 employees: 11,000
- 1,000+ employees: 58,000
By Sector
- Goods-producing: 37,000
-
- Natural resources/mining: 2,000
- Construction: 21,000
- Manufacturing: 14,000
- Service-providing: 198,000
-
- Trade/transportation/utilities: 44,000
- Information: -1,000
- Financial activities: 9,000
- Professional/business services: 46,000
-
- Professional/technical services: 22,000
- Management of companies/enterprises: 2,000
- Administrative/support services: 22,000
- Education/health services: 43,000
-
- Health care/social assistance: 38,000
- Education: 5,000
- Leisure/hospitality: 50,000
- Other services: 7,000
* Sum of components may not equal total, due to rounding.
**Complete details on franchise employment can be found
here.
"The labor market continues to experience uninterrupted growth,"
said Ahu Yildirmaz, vice president and co-head of the ADP Research
Institute. "We see persistent gains across most industries with
leisure and hospitality and retail leading the way as consumer
spending kicked up. At this pace of job growth employers will
soon become hard-pressed to find qualified workers."
Mark Zandi, chief economist of
Moody's Analytics, said, "The job market is red hot and threatens
to overheat. With government spending increases and tax cuts,
growth is set to accelerate."
The matched sample used to develop the ADP National
Employment Report was derived from ADP payroll data, which
represents 411,000 U.S. clients employing nearly 24 million workers
in the U.S. The January total of jobs added was revised up from
234,000 to 244,000.
In February's report, the following scheduled annual revisions
have been reflected in the estimates of employment shown in the
ADP National Employment Report:
- New regression coefficients and historical job growth estimates
based on ADP data and revised payroll data through December 2017 from the Bureau of Labor
Statistics;
- Incorporation of March 2017
industry and size class data from the Quarterly Census of
Employment and Wages (QCEW) in the generation process;
and
- Adjustments of historical job growth estimates consistent with
QCEW data through March 2017 and the
U.S. Bureau of Labor Statistics' annual benchmarking process.
Note: No revisions have been made to the methodology of
computing the estimates of employment shown in the ADP National
Employment Report. Annual revisions can be found by accessing
the Historical Data File on
www.adpemploymentreport.com.
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 March 2018 ADP National
Employment Report will be released at 8:15 a.m. ET on April 4,
2018.
About the ADP National Employment
Report®
The ADP National Employment
Report® is a monthly measure of the change in total
U.S. nonfarm private employment derived from actual, anonymous
payroll data of client companies served by ADP®, a
leading provider of human capital management solutions. The
report, which measures nearly 24 million U.S. workers, is produced
by the ADP Research Institute®, a specialized group
within the company that provides insights around employment trends
and workforce strategy, in collaboration with Moody's Analytics,
Inc.
Each month, ADP issues the ADP National Employment Report
as part of the company's commitment to adding deeper insights into
the U.S. labor market and providing businesses, governments and
others with a source of credible and valuable information.
The ADP National Employment Report is broadly distributed to
the public each month, free of charge.
The data for this report 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
model used to create this report, please see the ADP National
Employment Report: Development Methodology.
About Moody's Analytics
Moody's Analytics helps
capital markets and risk management professionals worldwide respond
to an evolving marketplace with confidence. The company offers
unique tools and best practices for measuring and managing risk
through expertise and experience in credit analysis, economic
research and financial risk management. By providing leading-edge
software, advisory services, and research, including the
proprietary analysis of Moody's Investors Service, Moody's
Analytics integrates and customizes its offerings to address
specific business challenges. Moody's Analytics is a subsidiary of
Moody's Corporation (NYSE: MCO), which reported revenue of
$3.5 billion in 2015, employs
approximately 10,800 people worldwide and maintains a presence in
36 countries. Further information is available at
www.moodysanalytics.com.
About ADP (NASDAQ: ADP)
Powerful technology plus a human touch. Companies of all types and
sizes around the world rely on ADP cloud software and expert
insights to help unlock the potential of their people. HR. Talent.
Benefits. Payroll. Compliance. Working together to build a better
workforce. For more information, visit ADP.com.
ADP, the ADP logo, ADP A more human resource., ADP National
Employment Report, ADP Small Business Report, ADP National
Franchise Report, and ADP Research Institute are registered
trademarks of ADP, LLC. All other marks are the property of their
respective owners.
Copyright © 2018 ADP, LLC. All rights reserved.
ADP-Media
View original content with
multimedia:http://www.prnewswire.com/news-releases/adp-national-employment-report-private-sector-employment-increased-by-235000-jobs-in-february-300609636.html
SOURCE ADP, LLC