Press release
ADP National Employment Report: Private Sector Employment Increased by 278,000 Jobs in May; Annual Pay was Up 6.5%
ROSELAND, N.J., June 1, 2023 /PRNewswire/ -- Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year,
About this update from Automatic Data Processing, Inc.
[{"type":"text","content":"ROSELAND, N.J., June 1, 2023 /PRNewswire/ -- Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year, according to the May ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (\"Stanford Lab\").\nThe jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. 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.\n\"This is the second month we've seen a full percentage point decline in pay growth for job changers,\" said Nela Richardson, chief economist, ADP. \"Pay growth is slowing substantially, and wage-driven inflation may be less of a concern for the economy despite robust hiring.\"\nMay 2023 Report Highlights*\nView the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.\nJOBS REPORT\nPrivate employers added 278,000 jobs in MayJob growth is strong while pay growth continues to slow. But gains in private employment were fragmented last month, with leisure and hospitality, natural resources, and construction taking the lead. Manufacturing and finance lost jobs.\nChange in U.S. Private Employment: 278,000\nChange by Industry Sector\n- Goods-producing: 110,000\nNatural resources/mining 94,000Construction 64,000Manufacturing -48,000- Service-providing: 168,000\nTrade/transportation/utilities 32,000Information -15,000Financial activities -35,000Professional/business services -5,000Education/health services -29,000Leisure/hospitality 208,000Other services 12,000Change by U.S. Regions \n- Northeast: 197,000\nNew England 76,000Middle Atlantic 121,000- Midwest: 139,000\nEast North Central 75,000West North Central 64,000- South: -204,000\nSouth Atlantic -77,000East South Central -33,000West South Central -94,000- West: 134,000\nMountain -36,000Pacific 170,000Change by Establishment Size \n- Small establishments: 235,000\n1-19 employees 116,00020-49 employees 119,000- Medium establishments: 140,000\n50-249 employees 112,000250-499 employees 28,000- Large establishments: -106,000\n5...