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Automatic Data Processing reports news on its global HR and payroll solutions business, including cloud-based human capital management products, payroll, talent, time management, tax, benefits, compliance and human resources outsourcing services. ADP serves small businesses through global enterprises and operates through Employer Services and Professional Employer Organization services.
Recurring ADP news includes quarterly earnings releases, fiscal outlook updates, senior note offerings and other capital actions, investor conference participation and labor-market publications. The ADP National Employment Report and NER Pulse use anonymized payroll data to report U.S. private-sector employment and pay trends.
ADP marked its 75th anniversary by ringing the NASDAQ Opening Bell on June 10, 2024. Since its inception in 1949, ADP has grown from serving a single client to over one million worldwide, focusing on workforce innovation. The company has pioneered various HCM solutions, including payroll outsourcing, cloud services, and mobile apps. Recently, ADP launched AI-powered ADP Assist, enhancing HR productivity and decision-making. According to an ADP Research Institute study, global workers have varying views on AI's future role in work. More insights will be available in the forthcoming 'Today at Work, Issue 6' on June 17, 2024.
According to the ADP National Employment Report for May 2024, private sector employment increased by 152,000 jobs, with annual pay rising by 5.0% year-over-year. However, job and pay growth are slowing. Manufacturing faced a steep decline, losing 20,000 jobs, while leisure and hospitality also saw weaker hiring. In contrast, the trade/transportation/utilities sector added 55,000 jobs, and construction gained 32,000 jobs. Regionally, the South added the most jobs (101,000), while the West lost 10,000 jobs. Small establishments saw a decrease of 10,000 jobs, whereas large establishments added 98,000 jobs. Pay gains for job-changers slowed, up 7.8%, while job-stayers saw a 5.0% increase.
The ADP Research Institute's 'People at Work 2024: A Global Workforce View' examines the evolving expectations of 35,000 workers across 18 countries. Key findings indicate that global inflation has reset worker pay expectations, with significant gaps between anticipated and actual pay increases, particularly in Latin America. The report highlights demographic shifts with a multigenerational workforce and the varied priorities across age groups. It also underscores the critical relationship between AI and skill development, noting that confidence in future skills is higher among those expecting AI to assist them. Additionally, stress levels are declining but remain a concern, particularly in North America.
Employers are advised to communicate transparently, invest in skill development, and manage changing worker expectations. With a focus on adapting to technological advances and demographic changes, companies can better navigate the post-pandemic labor market.
ADP (Nasdaq: ADP), a leading global technology company specializing in human capital management (HCM) solutions, has announced its participation in several upcoming investor conferences. The management team will present at the Barclays Emerging Payments & Fintech Forum on May 15, 2024, the J.P. Morgan Global Technology, Media and Communications Conference on May 22, 2024, and the Baird Global Consumer, Technology & Services Conference on June 4, 2024. Webcast and replay details can be accessed via ADP's investor relations website.
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.
ADP, a global technology company specializing in human capital management solutions, released its third quarter fiscal 2024 financial results and revised outlook. The company will host a conference call for financial analysts and provide a webcast for investors. Details are available on ADP's website and SEC filings.
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