Press release
ADP National Employment Report: Private Sector Employment Increased by 122,000 Jobs in July; Annual Pay was Up 4.8%
ROSELAND, N.J., July 31, 2024 /PRNewswire/ -- Private sector employment increased by 122,000 jobs in July and annual pay was up 4.8 percent year-over-year,
About this update from Automatic Data Processing, Inc.
[{"type":"text","content":"ROSELAND, N.J., July 31, 2024 /PRNewswire/ -- Private sector employment increased by 122,000 jobs in July and annual pay was up 4.8 percent year-over-year, according to the July ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the 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.\nThe jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market. 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 a high-frequency, 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 earnings of a cohort of almost 10 million employees over a 12-month period.\n\"With wage growth abating, the labor market is playing along with the Federal Reserve's effort to slow inflation,\" said Nela Richardson, chief economist, ADP. \"If inflation goes back up, it won't be because of labor.\"\nJuly 2024 Report Highlights*\nView the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.\nJOBS REPORT\nPrivate employers added 122,000 jobs in JulyJob creation edged down as pay gains continued to slow.\nChange in U.S. Private Employment: 122,000\nChange by Industry Sector\n- Goods-producing: 37,000\nNatural resources/mining 2,000Construction 39,000Manufacturing -4,000- Service-providing: 85,000\nTrade/transportation/utilities 61,000Information -18,000Financial activities 14,000Professional/business services -37,000Education/health services 22,000Leisure/hospitality 24,000Other services 19,000Change by U.S. Regions \n- Northeast: 21,000\nNew England -2,000Middle Atlantic 23,000- Midwest: 17,000\nEast North Central 21,000West North Central -4,000- South: 55,000\nSouth Atlantic 32,000East South Central 2,000West South Central 21,000- West: 32,000\nMountain 16,000Pacific 16,0...