ADP National Employment Report: Private Sector Employment Shed 32,000 Jobs in November; Annual Pay was Up 4.4%
Rhea-AI Summary
ADP (ADP) reported private sector employment fell by 32,000 jobs in November 2025 while annual pay for job-stayers rose 4.4% year-over-year, and pay for job-changers rose 6.3%. The report uses anonymized payroll data covering more than 26 million private-sector employees and ADP Pay Insights with 15 million monthly pay-change observations.
Hiring weakness was broad-based but led by small businesses; notable regional gains were the West +67,000 and Midwest +45,000, while the Northeast lost 100,000. Industry declines included manufacturing -18,000 and information -20,000. ADP revised October jobs from 42,000 to 47,000. The December 2025 ADP report is scheduled for January 7, 2025 at 8:15 a.m. ET.
Positive
- Pay for job-stayers +4.4% year-over-year
- Pay for job-changers +6.3% year-over-year
- West region employment +67,000 in November
- Midwest region employment +45,000 in November
- Large establishments (500+) jobs +39,000
Negative
- U.S. private employment change -32,000 in November
- Small establishments net jobs -120,000 in November
- Northeast region employment -100,000 in November
- Information sector jobs -20,000 in November
- Manufacturing sector jobs -18,000 in November
News Market Reaction
On the day this news was published, ADP gained 1.18%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ADP was up 0.43% while peers were mixed: ADBE +2.57%, INTU +2.51%, NOW +1.70%, MSTR +1.95%, CDNS -0.75%. No unified sector move is evident.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 09 | Awards announcement | Positive | -0.2% | Recognition of large employers as finalists for 2026 HCM Distinction Awards. |
| Dec 09 | Jobs estimate update | Positive | -0.2% | Preliminary NER Pulse showed private employers added 4,750 jobs per week. |
| Dec 03 | Employment report | Negative | +1.2% | NER showed private employment fell 32,000 jobs with pay still rising. |
| Nov 25 | Jobs estimate update | Negative | +2.5% | NER Pulse indicated private employers shed −13,500 jobs per week. |
| Nov 24 | Product recognition | Positive | -1.2% | ADP Workforce Now named a Leader in a 2025 HCM solutions evaluation. |
Across the last five news events, ADP’s stock moved opposite the apparent news tone each time, suggesting frequent divergence between headline sentiment and short-term price reaction.
Over recent months, ADP news has centered on labor-market reports and product or recognition updates. Multiple NER and NER Pulse releases highlighted shifting private employment, from shedding −13,500 jobs per week to adding 4,750 jobs per week, and then a −32,000 November decline. Separately, ADP Workforce Now was named a Leader in a major HCM evaluation, and ADP announced 2026 HCM Distinction Award finalists. Despite generally constructive or mixed news, share reactions have often been negative or contrary.
Market Pulse Summary
This announcement highlighted a −32,000 drop in U.S. private employment for November 2025 alongside moderating wage growth, with job-stayer pay up 4.4% and job-changer pay up 6.3%. Weakness was led by small businesses and sectors like manufacturing and information, while regions such as the West added 67,000 jobs. Investors may watch future ADP reports for confirmation of trends in hiring softness and pay deceleration.
AI-generated analysis. Not financial advice.
The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in
"Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," said Dr. Nela Richardson, chief economist, ADP. "And while November's slowdown was broad-based, it was led by a pullback among small businesses."
November 2025 Report Highlights
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
JOBS REPORT
Private employers shed 32,000 jobs in November
Job creation has been flat during the second half of 2025 and pay growth has been on a downward trend. November hiring was particularly weak in manufacturing, professional and business services, information, and construction.
Change in
Change by Industry
- Goods-producing: -19,000
- Natural resources/mining 8,000
- Construction -9,000
- Manufacturing -18,000
- Service-providing: -13,000
- Trade/transportation/utilities 1,000
- Information -20,000
- Financial activities -9,000
- Professional/business services -26,000
- Education/health services 33,000
- Leisure/hospitality 13,000
- Other services -4,000
Change by
- Northeast: -100,000
- New England -50,000
- Mid-Atlantic -49,000
- Midwest: 45,000
- East North Central 41,000
- West North Central 4,000
- South: -43,000
- South Atlantic -78,000
- East South Central 31,000
- West South Central 3,000
- West: 67,000
- Mountain 13,000
- Pacific 54,000
Change by Establishment Size
- Small establishments: -120,000
- 1-19 employees -46,000
- 20-49 employees -74,000
- Medium establishments: 51,000
- 50-249 employees 31,000
- 250-499 employees 20,000
- Large establishments: 39,000
- 500+ employees 39,000
PAY INSIGHTS
Pay growth slowed in November
Year-over-year pay for job-stayers rose 4.4 percent, down from 4.5 percent growth in October. For job-changers, pay was up 6.3 percent, slowing from 6.7 percent growth the month prior.
Median Change in Annual Pay
- Job-stayers
- Job-changers
Median Change in Annual Pay for Job-Stayers by Industry
- Goods-producing:
- Natural resources/mining
4.3% - Construction
4.4% - Manufacturing
4.8%
- Service-providing:
- Trade/transportation/utilities
4.4% - Information
4.2% - Financial activities
5.2% - Professional/business services
4.2% - Education/health services
4.3% - Leisure/hospitality
4.5% - Other services
4.0%
Median Change in Annual Pay for Job-Stayers by Firm Size
- Small firms:
- 1-19 employees
2.5% - 20-49 employees
4.0%
- Medium firms:
- 50-249 employees
4.7% - 250-499 employees
4.8%
- Large firms:
- 500+ employees
4.9%
To see Pay Insights by
The October total number of jobs added was revised from 42,000 to 47,000.
For additional information about the ADP National Employment Report, including historical files, employment and pay data, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.
The December 2025 ADP National Employment Report will be released on January 7, 2025 at 8:15 a.m. ET.
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
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