ADP National Employment Report: Private Sector Employment Increased
by 139,000 Jobs in February
ROSELAND, NJ--(Marketwired - Mar 5, 2014) - Private sector
employment increased by 139,000 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 ADP®, a leading global provider of Human Capital
Management (HCM) solutions, 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 2014 Report
Highlights*
View the ADP National Employment Report Infographic at
www.adpemploymentreport.com.
Total U.S. Nonfarm Private Employment: 139,000
- By Company Size
- Small businesses: 59,000
- 1-19 employees 32,000
- 20-49 employees 28,000
- Medium businesses: 35,000
- Large businesses: 44,000
- 500-999 employees 1,000
- 1,000+ employees 43,000
- By Sector
- Goods-producing 19,000
- Service-providing 120,000
- Industry Snapshot
- Construction 14,000
- Manufacturing 1,000
- Trade/transportation/utilities 31,000
- Financial activities -2,000
- Professional/business services 33,000
* Sum of components may not equal total, due to rounding.
Goods-producing employment rose by 19,000 jobs in February, up
from a downwardly-revised figure of 12,000 in January. Nearly all
of the growth came from the construction industry which added
14,000 jobs over the month; this followed downwardly revised
increases of 17,000 in the prior two months. Manufacturing eked out
a small gain in February adding just 1,000 jobs. January's decline
in manufacturing was upwardly revised to a loss of just 7,000
jobs.
Service-providing industries added 120,000 jobs in February, up
from a downwardly-revised January figure of 116,000. The
ADP National Employment Report indicates that
professional/business services contributed the most to growth in
service-providing industries, adding 33,000 jobs. This was well
below the average gains for the industry in 2013. Expansion in
trade/transportation/utilities accelerated slightly after a poor
showing in January, gaining 31,000 jobs in February. Financial
activities employment fell for the second straight month after
January's reading was downwardly revised to an 8,000 job loss.
These two months have been the weakest for financial services
employment since January and February of 2011.
"The U.S. private sector added 139,000 jobs in February, well
below the average over the last 12 months," said Carlos Rodriguez,
president and chief executive officer of ADP.
Mark Zandi, chief economist of Moody's Analytics, said,
"February was another soft month for the job market. Employment was
weak across a number of industries. Bad winter weather, especially
in mid-month, weighed on payrolls. Job growth is expected to
improve with warmer temperatures."
To see Chart 1. Change in Total Nonfarm Private Employment,
please click here:
http://media.marketwire.com/attachments/201403/MOD-229608_Chart1.ChangeinTotalNonfarmPrivateEmployment.jpg
To see Chart 2. Historical Trend -- Change in Total Nonfarm
Private Employment, please click here:
http://media.marketwire.com/attachments/201403/MOD-229609_Chart2.HistoricalTrendChangeinTotalNonfarmPrivateEmployment.jpg
To see Chart 3. Change in Nonfarm Private Employment by Selected
Industry, please click here:
http://media.marketwire.com/attachments/201403/MOD-229610_Chart3.ChangeinNonfarmPrivateEmploymentbySelectedIndustry.jpg
To see Chart 4. Change in Nonfarm Private Employment by Company
Size, please click here:
http://media.marketwire.com/attachments/201403/MOD-229611_Chart4.ChangeinNonfarmPrivateEmploymentbyCompanySize.jpg
Payroll growth for businesses with 49 or fewer employees
accelerated in February, adding 59,000 jobs. Though this month was
improved from January, growth remains slower than previous months;
the smallest gain for small businesses in 2013 was 71,000.
Employment levels among medium-sized companies with 50-499
employees rose by 35,000 and employment at large companies -- those
with 500 or more employees -- increased by 44,000. While this
represented an acceleration in job growth for large firms, growth
at mid-size firms was slower than it has been since April
2013.
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.
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Notice of Annual Revisions to the ADP National Employment
Report® |
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ADP®, in conjunction with Moody's
Analytics, has published the following scheduled annual
revisions to the estimates of employment shown in the ADP
National Employment Report: |
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New regression coefficients and historical
job growth estimates based on ADP data and revised payroll data
through December 2013 from the Bureau of Labor Statistics; |
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Incorporation of March 2013 industry and
size class data from the Quarterly Census of Employment and Wages
(QCEW) in the generation process; and |
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Adjustments of historical job growth
estimates consistent with QCEW data through March 2013 and the U.S.
Bureau of Labor Statistics' annual benchmarking process. |
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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
http://www.adpemploymentreport.com/. |
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ADP Small Business Report®: Due to the important
contribution that small businesses make to economic growth,
employment data that are specific to businesses with 49 or fewer
employees is reported each month in the ADP Small Business
Report®, a subset of the ADP National Employment
Report.
February 2014 Small
Business Report Highlights*
Total Small Business Employment: 59,000
- By size:
- 1-19 employees 32,000
- 20-49 employees 28,000
- By sector for 1-49 employees:
- Goods producing 7,000
- Service providing 52,000
- By sector for 1-19 employees:
- Goods producing 4,000
- Service providing 28,000
- By sector for 20-49 employees:
- Goods producing 3,000
- Service providing 25,000
* Sum of components may not equal total, due to rounding.
Additional information about small business employment,
including charts on monthly job growth and employment levels along
with historical data, is available at
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 2014 ADP National Employment Report will be
released at 8:15 a.m. ET on April 2, 2014.
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 ADP Small Business Report is a monthly estimate of
private nonfarm employment among companies in the U.S. 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
model used to create this report, please see "ADP National
Employment Report: Development Methodology" at
www.adpemploymentreport.com/docs/ADP-NER-Methodology-Full-Detail.pdf.
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 proprietary analyses from
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 $2.7 billion in
2012, employs approximately 6,800 people worldwide and has a
presence in 28 countries. Further information is available at
www.moodysanalytics.com.
About ADP With more than $11 billion in revenues and more than
60 years of experience, ADP® (NASDAQ: ADP) serves approximately
620,000 clients in more than 125 countries. As one of the
world's largest providers of business outsourcing and Human Capital
Management solutions, ADP offers a wide range of human resource,
payroll, talent management, tax and benefits administration
solutions from a single source, and helps clients comply with
regulatory and legislative changes, such as the Affordable Care Act
(ACA). 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, recreational vehicle, and heavy
equipment dealers throughout the world. For more information
about ADP, visit the company's Web site at www.adp.com.
The ADP logo, ADP, the ADP National Employment Report, the
ADP Small Business Report and the ADP Research Institute are
registered trademarks of ADP, Inc. All other marks are the
property of their respective owners. Copyright © 2014 ADP,
Inc.
Media Contacts: Dick Wolfe ADP (973) 974-7034 dick.wolfe@adp.com
Kate Rambo Weber Shandwick for ADP (617) 520-7048
krambo@webershandwick.com
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