ROSELAND, N.J., April 19, 2022 /PRNewswire/ -- Generating reliable data and cultivating expertise are critical to keeping pace with the evolving workforce. As the leader in providing deep data on the world of work, ADP Research Institute (ADPRI) is elevating its approach to labor market reports by collaborating with the Stanford Digital Economy Lab (the "Lab"). Through this collaboration, ADPRI and Stanford University researchers will create new research projects with the goal of unearthing incisive and comprehensive labor-market insights beginning in the summer of 2022.
"ADP Research Institute has a longstanding history of leveraging ADP's extensive data representing the labor market outcomes of over 26 million U.S. employees to analyze the workforce," said Nela Richardson, chief economist, ADP. "Yet, as the workforce changes, having quicker access to reliable data, rigorous research, and additional reports all coupled with meaningful expertise is imperative to deliver a strong read of the labor market and pulse of U.S. employment. We are thrilled to collaborate with the Lab on new research and will continue to leverage our unmatched data and insights and provide meaningful contributions to the world of work."
ADPRI and the Lab will collaborate on research using ADP's anonymized and aggregated private payroll data to uncover findings to help solve industry-related questions. The expanded research will cover the current job market, including an extensive microdata analysis to understand career paths for lower-wage workers. The collaboration will also create new academic research on topics related to economic growth and the future of work. Through this collaboration, ADPRI will continue to deliver on its mission of using data to inform business leaders, members of academia, economists, and policymakers with a reliable read on the workforce. Together, ADPRI and the Lab will apply academically rigorous methods to reporting and economic modeling with the goal of generating reliable labor market indicators leveraging ADP's dataset.
"At the Lab, we want to understand how technologies, like AI, are affecting the workforce, businesses, and society, and help people use that knowledge to make better decisions," said Professor Erik Brynjolfsson, director of the Lab. "This dataset fills an important information gap for our team and will allow researchers to embark on new projects to better examine the changing labor market. Furthermore, collaborating with the team at ADPRI on economic models and forecasts is an opportunity to help improve our collective understanding of the digital economy."
Additional updates and announcements regarding this collaboration and analysis of the labor market will be forthcoming. In the meantime, for more information on ADP Research Institute, visit ADPRI.org.
The ADP Research Institute delivers data-driven discoveries about the world of work and derives reliable economic indicators from these insights. We offer these findings as a unique contribution to making the world of work better and more productive by delivering actionable insights to the economy at large.
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