ROSELAND, N.J., Dec. 4, 2024 /PRNewswire/
-- Private sector employment increased by 146,000 jobs in
November and annual pay was up 4.8 percent year-over-year,
according to the November ADP® National Employment
ReportTM produced by ADP Research in collaboration
with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment
Report is an independent measure and high-frequency view of the
private-sector labor market based on actual, anonymized payroll
data of more than 25 million U.S. employees.
The jobs report and pay insights use ADP's fine-grained
anonymized and aggregated payroll data to provide a representative
picture of the private-sector labor market. The report details the
current month's total private employment change, and weekly job
data from the previous month. Because the underlying ADP payroll
databases are continuously updated, the report provides a
high-frequency, near real-time measure of U.S. employment. This
measure reflects the number of employees on ADP client payrolls
(Payroll Employment) to provide a richer understanding of the labor
market. ADP's pay measure uniquely captures the earnings of a
cohort of almost 10 million employees over a 12-month period.
"While overall growth for the month was healthy, industry
performance was mixed," said Nela
Richardson, chief economist, ADP. "Manufacturing was the
weakest we've seen since spring. Financial services and leisure and
hospitality were also soft."
November 2024 Report
Highlights*
View the ADP National Employment Report and interactive
charts at www.adpemploymentreport.com.
JOBS REPORT
Private employers added 146,000 jobs in
November
Strong hiring at large employers led this month's
growth.
Change in U.S. Private Employment:
146,000
Change by Industry Sector
- Goods-producing: 6,000
- Natural resources/mining 2,000
- Construction 30,000
- Manufacturing -26,000
- Service-providing:
140,000
- Trade/transportation/utilities 28,000
- Information 4,000
- Financial activities 5,000
- Professional/business services 18,000
- Education/health services 50,000
- Leisure/hospitality 15,000
- Other services 20,000
Change by U.S. Regions
- Northeast: 38,000
- New England -10,000
- Middle Atlantic 48,000
- Midwest: 31,000
- East North Central 26,000
- West North Central 5,000
- South: 61,000
- South Atlantic 42,000
- East South Central -11,000
- West South Central 30,000
- West: 29,000
- Mountain 18,000
- Pacific 11,000
Change by Establishment Size
- Small establishments: -17,000
- 1-19 employees 12,000
- 20-49 employees -29,000
- Medium establishments: 42,000
- 50-249 employees 23,000
- 250-499 employees 19,000
- Large establishments: 120,000
PAY INSIGHTS
Pay gains accelerated in November
Year-over-year pay
gains for job-stayers edged up for the first time in 25 months, to
4.8 percent. For job-changers, pay gains rose to 7.2 percent.
Median Change in Annual Pay (ADP matched person
sample)
- Job-Stayers 4.8%
- Job-Changers 7.2%
Median Change in Annual Pay for Job-Stayers by Industry
Sector
-
Goods-producing:
- Natural resources/mining 3.6%
- Construction 5.2%
- Manufacturing 4.7%
-
Service-providing:
- Trade/transportation/utilities 4.6%
- Information 4.5%
- Financial activities 5.0%
- Professional/business services 4.7%
- Education/health services 5.1%
- Leisure/hospitality 4.9%
- Other services 4.9%
Median Change in Annual Pay for Job-Stayers by Firm
Size
- Small
firms:
- 1-19 employees 4.2%
- 20-49 employees 4.8%
- Medium
firms:
- 50-249 employees 4.9%
- 250-499 employees 4.8%
- Large
firms:
To see Pay Insights by U.S. State, Gender, and Age for
Job-Stayers, visit here:
* Sum of components may not equal total due to rounding.
The October total of jobs added was revised from 233,000 to
184,000. The historical data file and weekly data for the previous
month are available at https://adpemploymentreport.com/.
Our November employment estimates are informed by the latest
Quarterly Census of Employment and Wages (QCEW) data, which caused
a downward revision in October. Our annual benchmarking of the full
data series will occur with the January
2025 NER release.
To subscribe to monthly email alerts or obtain additional
information about the ADP National Employment Report, including
employment and pay data, interactive charts, methodology, and a
calendar of release dates, please visit
https://adpemploymentreport.com/.
The December 2024 ADP National
Employment Report will be released at 8:15 a.m. ET on January 8,
2025.
About the ADP® National Employment
ReportTM
The ADP National Employment Report is an independent measure of
the change in U.S. private employment and pay derived from actual,
anonymized payroll data of client companies served by ADP, a
leading provider of human capital management solutions. The report
is produced by ADP Research in collaboration with the Stanford
Digital Economy Lab.
The ADP National Employment Report is broadly distributed to the
public each month, free of charge, as part of the company's
commitment to offering deeper insights of the U.S. labor market and
providing businesses and governments with a source of credible and
valuable information.
About the ADP Research
The mission of ADP Research is to make the future of work more
productive through data-driven discovery. Companies, workers, and
policymakers rely on our finely tuned data and unique perspective
to make informed decisions that impact workplaces around the
world.
About ADP (NASDAQ – ADP)
Designing better ways to work through cutting-edge products,
premium services and exceptional experiences that enable people to
reach their full potential. HR, Talent, Time Management,
Benefits and Payroll. Informed by data and designed for
people. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People,
ADP National Employment Report, ADP Research Institute and ADP
Research are trademarks of ADP, Inc. All other marks are the
property of their respective owners.
Copyright © 2024 ADP, Inc. All rights reserved.
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