ADP National Employment Report: Private Sector Employment Increased by 475,000 Jobs in February
According to the ADP National Employment Report, private sector employment rose by 475,000 jobs in February 2022. The report highlights a significant growth in large businesses, adding 552,000 jobs, while small businesses saw a decline of 96,000 jobs. The service-providing sector contributed 417,000 jobs, dominated by leisure and hospitality, which added 170,000 jobs. The January job addition was revised to 509,000 from an initially reported decline. This report, produced in collaboration with Moody's Analytics, utilizes actual payroll data from ADP.
- Private sector employment increased by 475,000 jobs in February 2022.
- Large businesses added 552,000 jobs, indicating a strong labor market.
- Service-providing sector saw a significant contribution with 417,000 jobs.
- Small businesses lost 96,000 jobs, struggling to attract qualified workers.
ROSELAND, N.J., March 2, 2022 /PRNewswire/ -- Private sector employment increased by 475,000 jobs from January to February according to the February ADP® National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody's Analytics. The report, which is derived from ADP's actual data of those who are on a company's payroll, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
February 2022 Report Highlights*
View the ADP National Employment Report Infographic at www.adpemploymentreport.com.
Total U.S. Nonfarm Private Employment: 475,000
By Company Size
- Small businesses: -96,000
- 1-19 employees -95,000
- 20-49 employees -1,000
- Medium businesses: 18,000
- 50-499 employees 18,000
- Large businesses: 552,000
- 500-999 employees 23,000
- 1,000+ employees 528,000
By Sector
- Goods-producing: 57,000
- Natural resources/mining 2,000
- Construction 26,000
- Manufacturing 30,000
- Service-providing: 417,000
- Trade/transportation/utilities 98,000
- Information 8,000
- Financial activities 11,000
- Professional/business services 72,000
- Professional/technical services 40,000
- Management of companies/enterprises 4,000
- Administrative/support services 29,000 - Education/health services 40,000
- Health care/social assistance 38,000
- Education 2,000 - Leisure/hospitality 170,000
- Other services 18,000
* Sum of components may not equal total, due to rounding.
- Franchise Employment**
- Franchise jobs 45,000
**Complete details on franchise employment can be found here.
"Hiring remains robust but capped by reduced labor supply post-pandemic. Last month large companies showed they are well-poised to compete with higher wages and benefit offerings, and posted the strongest reading since the early days of the pandemic recovery," said Nela Richardson, chief economist, ADP. "Small companies lost ground as they continue to struggle to keep pace with the wages and benefits needed to attract a limited pool of qualified workers."
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which represents 460,000 U.S. clients employing nearly 26 million workers in the U.S. The January total of jobs added was revised from -301,000 to 509,000.
In February's report, the following scheduled annual revisions have been reflected in the estimates of employment shown in the ADP National Employment Report:
- Adjustments of historical job growth estimates consistent with Quarterly Census of Employment and Wages (QCEW) data through March 2021 and the U.S. Bureau of Labor Statistics' annual benchmarking process.
- Incorporation of March 2021 industry and size class data from the QCEW in the generation process.
To obtain additional information about the ADP National Employment Report, including additional charts, supporting data and the schedule of future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit www.adpemploymentreport.com.
The March 2022 ADP National Employment Report will be released at 8:15 a.m. ET on March 30, 2022.
About the ADP® National Employment ReportTM
The ADP® National Employment ReportTM is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of client companies served by ADP®, a leading provider of human capital management solutions. The report, which measures nearly 26 million U.S. workers, is produced by the ADP Research Institute®, a specialized group within the company that provides insights around employment trends and workforce strategy, in collaboration with Moody's Analytics, Inc.
Each month, ADP Research Institute issues the ADP National Employment Report as part of the company's commitment to adding deeper insights into the U.S. labor market and providing businesses, governments and others with a source of credible and valuable information. The ADP National Employment Report is broadly distributed to the public each month, free of charge.
The data for this report is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP's total base of U.S. business clients.
For a description of the underlying data and the statistical model used to create this report, please see the ADP National Employment Report: Development Methodology.
About the ADP Research Institute
The mission of the ADP Research Institute is to generate data-driven discoveries about the world of work, and to derive reliable economic indicators from these insights. We offer these findings to the world at large as our unique contribution to making the world of work better and more productive, and to bring greater awareness to the economy at large.
About Moody's Analytics
Moody's Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs.
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 Small Business Report, ADP National Franchise 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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