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.
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
- Service-providing: 213,000
Financial activities -34,000
Professional/business services -77,000
Education/health services 55,000
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
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
500+ employees -68,000
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
Natural resources/mining 7.8%
Financial activities 7.8%
Professional/business services 6.8%
Education/health services 7.2%
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:
500+ employees 8.1%
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
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SOURCE ADP, Inc.