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ADP Employment: Difference between revisions
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=== July 2023 === | === July 2023 === | ||
Private sector employment increased by 177,000 jobs in August and annual pay was up 5.9 percent year-over-year. | Private sector employment increased by 177,000 jobs in August and annual pay was up 5.9 percent year-over-year.<ref>https://adp-ri-nrip-static.adp.com/artifacts/us_ner/20230830/ADP_NATIONAL_EMPLOYMENT_REPORT_Press_Release_2023_08%20FINAL.pdf?_ga=2.206996820.610477.1693414151-113947151.1692294309</ref> | ||
“This month's numbers are consistent with the pace of job creation before the pandemic,” said Nela Richardson, chief economist, ADP. “After two years of exceptional gains tied to the recovery, we're moving toward more sustainable growth in pay and employment as the economic effects of the pandemic recede.” | “This month's numbers are consistent with the pace of job creation before the pandemic,” said Nela Richardson, chief economist, ADP. “After two years of exceptional gains tied to the recovery, we're moving toward more sustainable growth in pay and employment as the economic effects of the pandemic recede.” | ||
* Job stayers saw a year-over-year pay increase of 5.9 percent, the slowest growth since October 2021. For job changers, pay growth also decelerated, to 9.5 percent. For the first time, all 50 states and Washington, D.C., experienced a slowdown in pay growth. | * Job stayers saw a year-over-year pay increase of 5.9 percent, the slowest growth since October 2021. For job changers, pay growth also decelerated, to 9.5 percent. For the first time, all 50 states and Washington, D.C., experienced a slowdown in pay growth. | ||