ADP Reports Private Sector Employment Gains and Increased Compensation in November
According to the November ADP® National Employment Report™ released today (11-30-22), nonfarm private sector employment increased by 127,000 jobs in November, and annual pay was up 7.6%, year-over-year. The ADP National Employment Report is 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 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 report, Dr. Nela Richardson, ADP’s chief economist, said:
“Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains. In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting, and the post-pandemic recovery is stabilizing.”
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