According to the November ADP® National Employment Report™ released today (1-5-23), nonfarm private sector employment increased by 235,000 jobs in December, and annual pay was up 7.3%, 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 jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million US 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.
Adding additional background and her analysis to the December report, Dr. Nela Richardson, ADP’s chief economist, said:
“The labor market is strong but fragmented, with hiring varying sharply by industry and establishment size. Business segments that hired aggressively in the first half of 2022 have slowed hiring and, in some cases, cut jobs in the last month of the year.”
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