News from the Wire

ADP: Private sector adds 143,000 jobs in September

Friday, October 04, 2024 — 13:40:09 (EDT)

ROSELAND, N.J., Oct. 2, 2024 /PRNewswire/ -- Private sector employment increased by 143,000 jobs in September and annual pay was up 4.7 percent year-over-year, according to the September 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.

ADP Research (PRNewsfoto/ADP, Inc.)

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.

"Stronger hiring didn't require stronger pay growth last month," said Nela Richardson, chief economist, ADP. "Typically, workers who change jobs see faster pay growth. But their premium over job-stayers shrank to 1.9 percent, matching a low we last saw in January."

September 2024 Report Highlights*

View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.

JOBS REPORT

Private employers added 143,000 jobs in September Job creation showed a widespread rebound after a five-month slowdown. Only one sector, information, lost jobs. Manufacturing added jobs for the first time since April.

Change in U.S. Private Employment: 143,000

Change by Industry Sector

- Goods-producing: 42,000

Natural resources/mining 14,000 Construction 26,000 Manufacturing 2,000 - Service-providing: 101,000

Trade/transportation/utilities 14,000 Information -10,000 Financial activities 2,000

Professional/business services 20,000 Education/health services 24,000 Leisure/hospitality 34,000

Other services 17,000

Change by U.S. Regions

- Northeast: 32,000

New England 7,000 Middle Atlantic 25,000 - Midwest: 26,000

East North Central 18,000 West North Central 8,000 - South: 61,000

South Atlantic 27,000 East South Central -9,000 West South Central 43,000 - West: 22,000

Mountain 1,000 Pacific 21,000

Change by Establishment Size

- Small establishments: -8,000

1-19 employees -13,000 20-49 employees 5,000 - Medium establishments: 64,000

50-249 employees 49,000 250-499 employees 15,000 - Large establishments: 86,000

500+ employees 86,000

PAY INSIGHTS

Pay gains slowed in September

Year-over-year pay gains for job-stayers fell slightly in September to 4.7 percent. For job-changers the decline was greater, falling from 7.3 percent in August to 6.6 percent.

Median Change in Annual Pay (ADP matched person sample)

- Job-Stayers 4.7%

- Job-Changers 6.6%

Median Change in Annual Pay for Job-Stayers by Industry Sector

- Goods-producing:

Natural resources/mining 3.6% Construction 5.1% Manufacturing 4.6%

- Service-providing:

Trade/transportation/utilities 4.5% Information 4.4% Financial activities 4.9% Professional/business services 4.6% Education/health services 5.1% Leisure/hospitality 4.7% Other services 4.8% Median Change in Annual Pay for Job-Stayers by Firm Size

- Small firms:

1-19 employees 4.0% 20-49 employees 4.6% - Medium firms:

50-249 employees 5.0% 250-499 employees 4.8% - Large firms:

500+ employees 4.7%

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 August total of jobs added was revised from 99,000 to 103,000. The historical data file and weekly data for the previous month are available at adpemploymentreport.com/.

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 adpemploymentreport.com/.

The October 2024 ADP National Employment Report will be released at 8:15 a.m. ET on October 30, 2024.

About the ADP® National Employment Report™

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.

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.