United States Adp Employment Change
Feb 28, 2023
Apr 05, 2023
Time to Release
10 Days 16 Hours
The ADP National Employment Report measures levels of non-farm private employment. The Report is based on the actual payroll data from about 24 million employees processed by the Automatic Data Processing, Inc.
Private businesses in the US unexpectedly created 242K jobs in February of 2023, well above an upwardly revised 119K in January and market forecasts of 200K. The services sector added 190K jobs, led by leisure and hospitality (83K), financial activities (62K), education/health services (35K), information (9K) and trade/transportations and utilities (3K) while the professional/business industry shed 36K jobs. Meanwhile, the goods-producing industry added 52K jobs due to manufacturing (43K) and mining (25K) while construction lost 16K. Large establishments created 160K jobs and medium ones 148K while small-sized companies shed 61K jobs, a declining trend seen since August of 2022. Annual pay growth for those remaining in their jobs slowed slightly to 7.2%, the slowest in 12 months, from 7.3% in January. ADP noted that there is a tradeoff in the labor market right now as hiring remains robust but pay growth is still quite elevated.
United States Adp Employment Change History
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