ADP National Employment Report: Private Sector Employment Increased by 146,000 Jobs in November; Annual Pay was Up 4.8%

The November ADP National Employment Report reveals a 146,000-job increase in the private sector, with annual pay up by 4.8% year-over-year. This independent report, derived from anonymized payroll data from over 25 million employees, offers a detailed view of U.S. labor market trends. Despite healthy overall growth, sectors like manufacturing underperformed, while large employers led the hiring surge. Annual pay gains saw a notable rise for both job-stayers (4.8%) and job-changers (7.2%).

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 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.

"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:     120,000 500+ employees     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:

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 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 Report TM

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.

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