ADP National Employment Report Preliminary Estimate November 29, 2025
Rhea-AI Summary
ADP (ADP) preliminary NER Pulse for the four weeks ending Nov 29, 2025 shows U.S. private employers added an average of 16,250 jobs per week (four-week moving average, seasonally adjusted).
The print signals a hiring rebound in late November after four weeks of job losses; prior weekly four-week averages ranged from -12,000 to 11,500. The NER Pulse is preliminary, uses a two-week data lag, and may change as new data are added. The next NER Pulse will publish Jan 12, 2026.
Positive
- 16,250 average weekly jobs added (four-week moving average) for week ending 11/29/25
- Late-November rebound after four weeks of negative four-week averages
Negative
- Multiple prior four-week averages were negative, including -12,000 (week ending 11/8/25)
- Estimates are preliminary and subject to revision as new data are added
News Market Reaction
On the day this news was published, ADP declined 1.05%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ADP was down 0.43% while key software/data peers also traded lower (e.g., ADBE -0.41%, CDNS -1.74%, MSTR -7.91%, INTU -2.31%, NOW -4.11%). No peers appeared in momentum scanners, suggesting stock-specific trading around this macro employment release rather than a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 11 | Product integration | Positive | +2.1% | Embedded Thatch ICHRA integration into RUN for 900,000+ small businesses. |
| Dec 10 | Product launch | Positive | +0.4% | Launched Save4Retirement pooled employer 401(k) plan with named providers. |
| Dec 09 | Awards announcement | Neutral | -0.2% | Named finalists for 2026 HCM Distinction Awards across several categories. |
| Dec 09 | NER Pulse update | Positive | -0.2% | Preliminary NER Pulse showed 4,750 average weekly job gains over four weeks. |
| Dec 03 | Jobs report | Negative | +1.2% | Reported 32,000 private jobs lost in November with pay growth still solid. |
Recent ADP macro/employment releases and product updates often saw modest price moves, with a mix of aligned and divergent reactions to the apparent news tone.
Over the last few weeks, ADP news has focused on both product development and labor-market reporting. On Dec 3, it reported a 32,000 private jobs loss with pay up 4.4%, followed by multiple NER Pulse updates including 4,750 average weekly job gains for four weeks ending Nov 22. Separately, ADP launched a new pooled 401(k) plan and deepened integration with Thatch for ICHRA access across 900,000+ small businesses. Today’s NER Pulse preliminary estimate extends this stream of high-frequency employment insights.
Market Pulse Summary
This announcement highlights a preliminary rebound in hiring, with U.S. private employers adding an average of 16,250 jobs per week over the four weeks ending November 29, 2025, based on ADP’s seasonally adjusted four-week moving average. It extends a series of NER Pulse updates providing 12 weeks of high-frequency labor data. Investors may track how subsequent revisions, the next release on January 12, 2026, and broader ADP employment reports interact with the stock’s position below its 200-day moving average.
Key Terms
four-week moving average technical
seasonally adjusted technical
high-frequency data technical
reference week technical
AI-generated analysis. Not financial advice.
This continued strengthening during the second half of November signals a potential rebound in hiring after four weeks of job losses. These numbers are preliminary and could change as new data is added.
Week ending | Change |
11/29/25 | 16,250 |
11/22/25 | 2,750 |
11/15/25 | -9,250 |
11/8/25 | -12,000 |
11/1/25 | -7,250 |
10/25/25 | -4,750 |
10/18/25 | 11,500 |
10/11/25 | 10,250 |
10/4/25 | 4,250 |
9/27/25 | 11,750 |
9/20/25 | -7,750 |
9/13/25 | -9,500 |
The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average. These estimates are based on ADP's finely tuned, high-frequency data. The data are seasonally adjusted and have a two-week lag to allow for more complete and accurate estimates of real-time employment trends.
The NER Pulse, including 12 weeks of historical data, publishes every Tuesday at 8:15 a.m. ET, except weeks when ADP Research publishes the monthly National Employment Report which is built on a reference week that includes the 12th day of the month. The press release is available Tuesdays at 8:15 a.m. ET in the ADP Media Center. The NER Pulse is also available shortly after 8:15 a.m. ET on release days at ADP Research and in Main Street Macro.
The NER Pulse will not publish December 30, 2025 because the week ending December 13, 2025 corresponds to the reference week of the monthly National Employment Report.
The next NER Pulse will be released January 12, 2026.
The ADP National Employment Report and the NER Pulse are produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
About ADP Research
The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.
To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.
About ADP (NASDAQ: ADP)
ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners.
Copyright © 2025 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.
FAQ
What did ADP report for the NER Pulse week ending Nov 29, 2025 (ADP)?
Does the Nov 29, 2025 NER Pulse mean sustained hiring growth for ADP (ADP)?
How should investors interpret ADP's two-week lag in the NER Pulse (ADP)?
When will ADP publish the next NER Pulse after Nov 29, 2025?
What were notable negative four-week averages before Nov 29, 2025 in ADP's series?
