ADP National Employment Report: Private Sector Employment Increased by 192,000 Jobs in April; Annual Pay was Up 5.0%
Rhea-AI Summary
The ADP National Employment Report showed that private sector employment increased by 192,000 jobs in April, with annual pay up by 5.0%. The report, based on actual payroll data of over 25 million U.S. employees, provides a high-frequency view of the labor market. Hiring was broad-based, except for the information sector, which showed weakness. Pay growth continues to slow, with job-stayers experiencing little change while job-changers saw a decrease in pay gains.
Positive
Private sector employment increased by 192,000 jobs in April.
Annual pay was up by 5.0% year-over-year.
Hiring was broad-based in April, except for the information sector which showed weakness.
Negative
The information sector (telecommunications, media, and information technology) posted job losses and the smallest pace of pay gains since August 2021.
Pay growth continues to slow, with job-changers experiencing a decrease in pay gains from 10.1% to 9.3% in April.
News Market Reaction 1 Alert
On the day this news was published, ADP gained 2.25%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The 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
"Hiring was broad-based in April," said Nela Richardson, chief economist, ADP. "Only the information sector – telecommunications, media, and information technology – showed weakness, posting job losses and the smallest pace of pay gains since August 2021."
April 2024 Report Highlights*
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
JOBS REPORT
Private employers added 192,000 jobs in April
The average pace of hiring has accelerated over the last three months after slowing late last year, almost matching gains made in the first half of 2023. Pay growth continues to slow.
Change in
Change by Industry Sector
- Goods-producing: 47,000
- Natural resources/mining 3,000
- Construction 35,000
- Manufacturing 9,000
- Service-providing: 145,000
- Trade/transportation/utilities 26,000
- Information -4,000
- Financial activities 16,000
- Professional/business services 22,000
- Education/health services 26,000
- Leisure/hospitality 56,000
- Other services 3,000
Change by
- Northeast: 36,000
- New England 14,000
- Middle Atlantic 22,000
- Midwest: 33,000
- East North Central 34,000
- West North Central -1,000
- South: 124,000
- South Atlantic 51,000
- East South Central 28,000
- West South Central 45,000
- West: 11,000
- Mountain 7,000
- Pacific 4,000
Change by Establishment Size
- Small establishments: 38,000
- 1-19 employees 39,000
- 20-49 employees -1,000
- Medium establishments: 62,000
- 50-249 employees 46,000
- 250-499 employees 16,000
- Large establishments: 98,000
- 500+ employees 98,000
PAY INSIGHTS
Pay gains for job-changers slowed in April
Year-over-year pay gains for job-stayers were little changed in April at 5 percent. Pay growth for job-changers fell from 10.1 percent in March to 9.3 percent, but remains higher than it was at the beginning of the year.
Median Change in Annual Pay (ADP matched person sample)
- Job-Stayers
- Job-Changers 9.
Median Change in Annual Pay for Job-Stayers by Industry Sector
- Goods-producing:
- Natural resources/mining
4.7% - Construction
5.9% - Manufacturing
4.6%
- Service-providing:
- Trade/transportation/utilities
4.7% - Information
4.4% - Financial activities
5.1% - Professional/business services
4.9% - Education/health services
5.7% - Leisure/hospitality
5.8% - Other services
5.7%
Median Change in Annual Pay for Job-Stayers by Firm Size
- Small firms:
- 1-19 employees
5.0% - 20-49 employees
5.2%
- Medium firms:
- 50-249 employees
5.2% - 250-499 employees
5.0%
- Large firms:
- 500+ employees
4.9%
To see Pay Insights by
* Sum of components may not equal total, due to rounding.
The March total of jobs added was revised from 184,000 to 208,000. 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 May 2024 ADP National Employment Report will be released at 8:15 a.m. ET on June 5, 2024.
About the ADP® National Employment Report™ The ADP National Employment Report is an independent measure of the change in
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
About the ADP Research Institute®
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
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SOURCE ADP, Inc.
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