ROSELAND, N.J., Nov. 2, 2022
/PRNewswire/ -- Private sector employment increased by 239,000
jobs in October and annual pay was up 7.7 percent year-over-year,
according to the October ADP® National Employment
ReportTM 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.
"This is a really strong number given the maturity of the
economic recovery but the hiring was not broad-based," said
Nela Richardson, chief economist,
ADP. "Goods producers, which are sensitive to interest rates, are
pulling back, and job changers are commanding smaller pay gains.
While we're seeing early signs of Fed-driven demand destruction,
it's affecting only certain sectors of the labor market."
October 2022 Report
Highlights*
View the ADP National Employment Report and interactive
charts at www.adpemploymentreport.com.
Jobs Report
Private employers added 239,000 jobs in
October
Employers created 239,000 jobs in October, up from a
revised 192,000 in September as restaurants, retailers and the
travel sector ramped up hiring in advance of the year-end
holidays.
Change in U.S. Private Employment:
239,000
Change by Industry Sector
- Goods-producing: -8,000
- Natural resources/mining 11,000
- Construction 1,000
- Manufacturing -20,000
- Service-providing:
247,000
- Trade/transportation/utilities 84,000
- Information -17,000
- Financial activities -10,000
- Professional/business services -14,000
- Education/health services -5,000
- Leisure/hospitality 210,000
- Other services -1,000
Change by U.S. Regions
- Northeast: 50,000
- New England -1,000
- Middle Atlantic 51,000
- Midwest: -23,000
- East North Central -23,000
- West North Central 0
- South: -17,000
- South Atlantic 0
- East South Central -1,000
- West South Central -16,000
- West: 229,000
- Mountain -27,000
- Pacific 256,000
Change by Establishment Size
- Small establishments: 25,000
- 1-19 employees 62,000
- 20-49 employees -37,000
- Medium establishments: 218,000
- 50-249 employees 241,000
- 250-499 employees -23,000
- Large establishments: -4,000
PAY INSIGHTS
Pay growth eased again in October
Job changers
continued to record double-digit, year-over-year pay increases, but
momentum in those gains is ebbing. For these workers, annual pay
growth edged down for the third straight month, to 15.2 percent in
October from 15.7 percent in September. For job stayers, pay gains
were 7.7 percent, in line with recent months.
Median Change in Annual Pay (ADP matched person
sample)
- Job-Stayers 7.7%
-
Job-Changers 15.2%
Median Change in Annual Pay for Job-Stayers by Industry
Sector
-
Goods-producing:
- Natural resources/mining 7.9%
- Construction 6.9%
- Manufacturing 7.7%
-
Service-providing:
- Trade/transportation/utilities 8.4%
- Information 7.3%
- Financial activities 7.8%
- Professional/business services 6.8%
- Education/health services 7.3%
- Leisure/hospitality 11.2%
- Other services 7.0%
Median Change in Annual Pay for Job-Stayers by Firm
Size
- Small
firms:
- 1-19 employees 5.6%
- 20-49 employees 7.3%
- Medium
firms:
- 50-249 employees 8.0%
- 250-499 employees 7.9%
- 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 November 2022 ADP National
Employment Report will be released at 8:15 a.m. ET on November
30, 2022.
About the ADP® National Employment
ReportTM
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.