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 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/.
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Tags: Payroll
