ROSELAND, N.J., Nov. 30,
2022 /PRNewswire/ -- Private sector employment
increased by 127,000 jobs in November and annual pay was up 7.6
percent year-over-year, according to the November
ADP® National Employment Report™ produced by the
ADP Research Institute® in collaboration with the
Stanford Digital Economy Lab ("Stanford
Lab").
The jobs report and pay insights use ADP's fine-grained
anonymized and aggregated payroll data of over 25 million U.S.
employees to provide a representative picture of the labor market.
The report details the current month's total private employment
change, and weekly job data from the previous month. ADP's pay
measure uniquely captures the earnings of a cohort of almost 10
million employees over a 12-month period.
"Turning points can be hard to capture in the labor market, but
our data suggest that Federal Reserve tightening is having an
impact on job creation and pay gains," said Nela Richardson, chief economist, ADP. "In
addition, companies are no longer in hyper-replacement mode. Fewer
people are quitting and the post-pandemic recovery is
stabilizing."
November 2022 Report
Highlights*
View the ADP National Employment Report and interactive
charts at www.adpemploymentreport.com.
JOBS REPORT
Private employers added 127,000 jobs in November
Job
creation slowed by the most since January
2021, led by construction and other interest rate-sensitive
sectors. Consumer-facing segments - including health care and
hospitality - were bright spots.
Change in U.S. Private Employment:
127,000
Change by Industry Sector
- Goods-producing:
86,000
- Natural resources/mining 16,000
- Construction -2,000
- Manufacturing -100,000
- Service-providing:
213,000
- Trade/transportation/utilities 62,000
- Information -25,000
- Financial activities -34,000
- Professional/business services -77,000
- Education/health services 55,000
- Leisure/hospitality 224,000
- Other services 8,000
Change by U.S. Regions
- Northeast: 158,000
- New England -7,000
- Middle Atlantic 165,000
- Midwest: 41,000
- East North Central -34,000
- West North Central -7,000
- South: -2,000
- South Atlantic 8,000
- East South Central 18,000
- West South Central -28,000
- West: 12,000
- Mountain -20,000
- Pacific 32,000
Change by Establishment Size
- Small establishments: -51,000
- 1-19 employees 5,000
- 20-49 employees -56,000
- Medium establishments: 246,000
- 50-249 employees 283,000
- 250-499 employees -37,000
- Large establishments: -68,000
PAY INSIGHTS
Pay gains moderated again in November
Pay growth
remained elevated even as it continued a modest but broad-based
deceleration. Job changers notched their fifth straight slowdown
and the smallest increase in pay since January. Pay growth for job
stayers edged down, too, led by leisure and hospitality, which had
a rapid run-up in 2021 but has been falling since March.
Median Change in Annual Pay (ADP matched person
sample)
- Job-Stayers 7.6%
-
Job-Changers 15.1%
Median Change in Annual Pay for Job-Stayers by Industry
Sector
-
Goods-producing:
- Natural resources/mining 7.8%
- Construction 6.8%
- Manufacturing 7.5%
-
Service-providing:
- Trade/transportation/utilities 8.1%
- Information 7.3%
- Financial activities 7.8%
- Professional/business services 6.8%
- Education/health services 7.2%
- Leisure/hospitality 10.8%
- Other services 6.8%
Median Change in Annual Pay for Job-Stayers by Firm
Size
- Small
firms:
- 1-19 employees 5.6%
- 20-49 employees 7.2%
- Medium
firms:
- 50-249 employees 7.9%
- 250-499 employees 7.8%
- 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 historical data file, and weekly data for the previous
month, is available at https://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
https://adpemploymentreport.com/.
The December 2022 ADP National
Employment Report will be released at 8:15 a.m. ET on January 5,
2023.
About the ADP® National Employment
Report™ The ADP National Employment Report is an
independent estimate 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
Institute 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 Institute®
The ADP Research
Institute delivers data-driven discoveries about the world of work
and derives reliable economic indicators from these insights. We
offer these findings as a unique contribution to making the world
of work better and more productive by delivering actionable
insights to the economy at large.
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, and ADP Research Institute are
registered trademarks of ADP, Inc. All other marks are the property
of their respective owners.
Copyright © 2022 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.