ADP® Reports Private Sector Employment Gains and Increased Compensation in March

According to the ADP® National Employment Report™ released today (4-5-23), nonfarm private sector employment increased by 145,000 jobs in March and annual pay was up 6.9% 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 March report, ADP’s chief economist Dr. Nela Richardson said:

“Our March payroll data is one of several signals that the economy is slowing. Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”