Automatic Data Processing Inc
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Information Technology : IT Services | Large Cap Blend
Company profile

Automatic Data Processing, Inc. (ADP) is a global technology company engaged in providing cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration. Its segments include Employer Services and Professional Employer Organization (PEO). Its Employer Services segment serves clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of technology-based HCM solutions, including its cloud-based platforms, and human resource outsourcing (HRO) solutions (other than PEO) solutions. Its offerings include Payroll Services, Benefits Administration, Talent Management, HR Management, Workforce Management, Compliance Services, Insurance Services and Retirement Services. Its PEO business, called ADP TotalSource, provides clients with employment administration outsourcing solutions. It serves over 990,000 clients in 140 countries and territories.

Postmarket

Last Trade
Delayed
$222.56
0.20 (0.09%)
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Closing Price
$222.36
Day's Change
1.56 (0.71%)
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Day's High
223.30
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Volume:
3,520,994

10-day average volume:
2,488,459
3,520,994

ADP National Employment Report: Private Sector Employment Increased by 127,000 Jobs in November; Annual Pay was Up 7.6%

8:15 am ET November 30, 2022 (PR Newswire) Print

Private sector employment increased by 127,000 jobs in November and annual pay was up 7.6 percent year-over-year, according to the November ADP(R) National Employment Report™ produced by the ADP Research Institute(R) 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 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.

"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," said Nela Richardson, chief economist, ADP. "In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting and the post-pandemic recovery is stabilizing."

November 2022 Report Highlights*

View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.

JOBS REPORT

Private employers added 127,000 jobs in NovemberJob creation slowed by the most since January 2021, led by construction and other interest rate-sensitive sectors. Consumer-facing segments - including health care and hospitality - were bright spots.

Change in U.S. Private Employment: 127,000

Change by Industry Sector

Goods-producing: 86,000

-- Natural resources/mining 16,000

-- Construction -2,000

-- Manufacturing -100,000

Service-providing: 213,000

-- Trade/transportation/utilities 62,000

-- Information -25,000

-- Financial activities -34,000

-- Professional/business services -77,000

-- Education/health services 55,000

-- Leisure/hospitality 224,000

-- Other services 8,000

Change by U.S. Regions

Northeast: 158,000

-- New England -7,000

-- Middle Atlantic 165,000

Midwest: 41,000

-- East North Central -34,000

-- West North Central -7,000

South: -2,000

-- South Atlantic 8,000

-- East South Central 18,000

-- West South Central -28,000

West: 12,000

-- Mountain -20,000

-- Pacific 32,000

Change by Establishment Size

Small establishments: -51,000

-- 1-19 employees 5,000

-- 20-49 employees -56,000

Medium establishments: 246,000

-- 50-249 employees 283,000

-- 250-499 employees -37,000

Large establishments: -68,000

-- 500+ employees -68,000

PAY INSIGHTS

Pay gains moderated again in NovemberPay growth remained elevated even as it continued a modest but broad-based deceleration. Job changers notched their fifth straight slowdown and the smallest increase in pay since January. Pay growth for job stayers edged down, too, led by leisure and hospitality, which had a rapid run-up in 2021 but has been falling since March.

Median Change in Annual Pay (ADP matched person sample)

Job-Stayers 7.6%- Job-Changers 15.1%

Median Change in Annual Pay for Job-Stayers by Industry Sector

Goods-producing:

-- Natural resources/mining 7.8%

-- Construction 6.8%

-- Manufacturing 7.5%

Service-providing:

-- Trade/transportation/utilities 8.1%

-- Information 7.3%

-- Financial activities 7.8%

-- Professional/business services 6.8%

-- Education/health services 7.2%

-- Leisure/hospitality 10.8%

-- Other services 6.8%

Median Change in Annual Pay for Job-Stayers by Firm Size

Small firms:

-- 1-19 employees 5.6%

-- 20-49 employees 7.2%

Medium firms:

-- 50-249 employees 7.9%

-- 250-499 employees 7.8%

Large firms:

-- 500+ employees 8.1%

To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here:

* Sum of components may not equal total, due to rounding.

The historical data file, and weekly data for the previous month, is available at https://adpemploymentreport.com/.

To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.

The December 2022 ADP National Employment Report will be released at 8:15 a.m. ET on January 5, 2023.

About the ADP(R) National Employment Report™The ADP National Employment Report is an independent estimate of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research Institute in collaboration with the Stanford Digital Economy Lab.

The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information.

About the ADP Research Institute(R) The ADP Research Institute delivers data-driven discoveries about the world of work and derives reliable economic indicators from these insights. We offer these findings as a unique contribution to making the world of work better and more productive by delivering actionable insights to the economy at large.

About ADP (NASDAQ - ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com

ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research Institute are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.

Copyright (C) 2022 ADP, Inc. All rights reserved.

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SOURCE ADP, Inc.

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