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 ReportTM 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 2,000Construction 30,000Manufacturing -26,000
– Service-providing: 140,000
Trade/transportation/utilities 28,000Information 4,000Financial activities 5,000Professional/business services 18,000Education/health services 50,000Leisure/hospitality 15,000Other services 20,000
Change by U.S. Regions
– Northeast: 38,000
New England -10,000Middle Atlantic 48,000
– Midwest: 31,000
East North Central 26,000West North Central 5,000
– South: 61,000
South Atlantic 42,000East South Central -11,000West South Central 30,000
– West: 29,000
Mountain 18,000Pacific 11,000
Change by Establishment Size
– Small establishments: -17,000
1-19 employees 12,00020-49 employees -29,000
– Medium establishments: 42,000
50-249 employees 23,000250-499 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 ReportTM
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)
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, ADP Research Institute and ADP Research are trademarks of ADP, Inc. All other marks are the property of their respective owners.
Copyright © 2024 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.
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