ADP National Employment Report: Private Sector Employment Increased by 146,000 Jobs in November; Annual Pay was Up 4.8%
Rhea-AI Summary
ADP's November National Employment Report shows private sector employment increased by 146,000 jobs, with annual pay rising 4.8% year-over-year. Large employers led growth with 120,000 new jobs, while small establishments decreased by 17,000 jobs.
The service-providing sector added 140,000 jobs, with education/health services contributing 50,000 positions. Manufacturing showed weakness with a decline of 26,000 jobs. By region, the South led with 61,000 new jobs, followed by the Northeast with 38,000.
Pay gains accelerated in November, with job-stayers seeing a 4.8% increase and job-changers experiencing a 7.2% rise. The October jobs total was revised down from 233,000 to 184,000.
Positive
- Private sector added 146,000 new jobs in November
- Annual pay increased 4.8% for job-stayers and 7.2% for job-changers
- Education/health services sector showed strong growth with 50,000 new jobs
- Large establishments (500+ employees) added 120,000 jobs
Negative
- Manufacturing sector lost 26,000 jobs
- Small establishments decreased by 17,000 jobs
- October jobs total revised downward from 233,000 to 184,000
- East South Central region lost 11,000 jobs
News Market Reaction
On the day this news was published, ADP declined 0.03%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
"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
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
- 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
- Job-Changers 7.
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
* 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
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
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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