ADP National Employment Report: Private Sector Employment Increased by 143,000 Jobs in September; Annual Pay was Up 4.7% | ADP Stock News

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 Report^TM 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.

“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 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 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)
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