ADP® Reports Private Sector Employment and Compensation Gains in March

According to the  ADP® National Employment Report™, released on Wednesday (5-3-24), private sector employment increased by 192,000 jobs in April and annual pay was up 5.0%, year-over-year.

The ADP National Employment Report™ is produced by the ADP Research Institute® in collaboration with Stanford Digital Economy Lab (“Stanford Lab”). The ADP National Employment Report is an independent measure and high-frequency view of the private sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees. 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 near real-time measure of U.S. employment. This measure reflects the number of employees on ADP client payrolls (Payroll Employment) to provide a richer understanding of the labor market. ADP’s pay measure uniquely captures the earning of a cohort of almost 10 million employes over a 12-month period.

Adding additional background and her expert analysis, to the January report ADP’s Chief Economist Nela Richardson said, “Hiring was broad-based in April. Only the information sector – telecommunications, media, and information technology – showed weakness, posting job losses and the smallest pace of pay gains since August 2021.”