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ROSELAND, N.J., Nov. 2, 2022 /PRNewswire/ -- Private sector employment increased by 239,000 jobs in October and annual pay was up 7.7 percent year-over-year, according to the October ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab").
The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month's total private employment change, and weekly job data from the previous month. ADP's pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.
"This is a really strong number given the maturity of the economic recovery but the hiring was not broad-based," said Nela Richardson, chief economist, ADP. "Goods producers, which are sensitive to interest rates, are pulling back, and job changers are commanding smaller pay gains. While we're seeing early signs of Fed-driven demand destruction, it's affecting only certain sectors of the labor market."
October 2022 Report Highlights*
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
Jobs Report
Private employers added 239,000 jobs in October
Employers created 239,000 jobs in October, up from a revised 192,000 in September as restaurants, retailers and the travel sector ramped up hiring in advance of the year-end holidays.
Change in U.S. Private Employment: 239,000
Change by Industry Sector
- Goods-producing: -8,000
- Service-providing: 247,000
Change by U.S. Regions
- Northeast: 50,000
- Midwest: -23,000
- South: -17,000
- West: 229,000
Change by Establishment Size
- Small establishments: 25,000
- Medium establishments: 218,000
- Large establishments: -4,000
PAY INSIGHTS
Pay growth eased again in October
Job changers continued to record double-digit, year-over-year pay increases, but momentum in those gains is ebbing. For these workers, annual pay growth edged down for the third straight month, to 15.2 percent in October from 15.7 percent in September. For job stayers, pay gains were 7.7 percent, in line with recent months.
Median Change in Annual Pay (ADP matched person sample)
- Job-Stayers 7.7%
- Job-Changers 15.2%
Median Change in Annual Pay for Job-Stayers by Industry Sector
- Goods-producing:
- Service-providing:
Median Change in Annual Pay for Job-Stayers by Firm Size
- Small firms:
- Medium firms:
- Large firms:
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 historical data file, and weekly data for the previous month, is available at https://adpemploymentreport.com/.
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 November 2022 ADP National Employment Report will be released at 8:15 a.m. ET on November 30, 2022.
About the ADP® National Employment ReportTM
The ADP National Employment Report is an independent estimate 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 Institute 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 Institute®
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.
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
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