Automatic Data Processing Inc Stock Price, News & Analysis

The March ADP National Employment Report reveals a significant increase in private sector employment, with 455,000 jobs added from February to March 2022. Small businesses contributed 90,000 jobs, medium businesses added 188,000, and large businesses accounted for 177,000. Employment growth was robust across sectors, particularly in service-providing industries, which saw 377,000 new jobs. The report also highlights a revision of February's job additions from 475,000 to 486,000. However, the chief economist noted that a tight labor supply poses challenges for ongoing growth in consumer-facing sectors.

ADP Research Institute will release three significant reports on March 30, 2022, at 8:15 a.m. ET: the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report. These reports provide crucial employment insights based on ADP payroll data from 460,000 clients and nearly 26 million workers. The Small Business Report focuses on companies with up to 49 employees, while the Franchise Report covers employment from 15,000 franchisors and franchisees. Following the reports, Nela Richardson, ADP's Chief Economist, will discuss the findings in a media conference call.

ADP (Nasdaq: ADP) will release its financial results for the third fiscal quarter ending March 31, 2022, before the Nasdaq opens on April 27, 2022. A conference call is scheduled for 8:30 a.m. ET on the same day, featuring CEO Carlos Rodriguez, CFO Don McGuire, and VP of Investor Relations Danyal Hussain. ADP will no longer distribute results via news wire; instead, findings will be posted on its Investor Relations website, with an alert indicating availability. Interested parties can listen to the call via live webcast.

According to the ADP National Employment Report, private sector employment rose by 475,000 jobs in February 2022. The report highlights a significant growth in large businesses, adding 552,000 jobs, while small businesses saw a decline of 96,000 jobs. The service-providing sector contributed 417,000 jobs, dominated by leisure and hospitality, which added 170,000 jobs. The January job addition was revised to 509,000 from an initially reported decline. This report, produced in collaboration with Moody's Analytics, utilizes actual payroll data from ADP.

ADP Research Institute will release the February findings from the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report on March 2, 2022, at 8:15 a.m. ET. These reports, derived from payroll data of 460,000 U.S. clients representing nearly 26 million workers, provide key insights into private sector employment and franchise employment trends. Following the release, a media conference call will feature ADP Chief Economist Nela Richardson at 8:30 a.m. ET to discuss the findings.

ADP has been recognized as a Leader in the Recruitment Process Outsourcing (RPO) NEAT 2021 assessment by NelsonHall, highlighting its capabilities in talent acquisition. The firm excelled in categories such as Talent Acquisition Transformation, Innovation in Technology, and Geographic Scalability. This recognition underscores ADP's commitment to evolving its services to meet client needs amidst changing work environments. ADP's innovative solutions, including its AIRS recruitment training program and the ADP DataCloud platform, position the company well to support clients in overcoming hiring challenges.

ADP announced the appointment of David Goeckeler to its Board of Directors, effective February 14, 2022, increasing the independent director count to 11. Goeckeler brings extensive experience in technology, previously serving as CEO of Western Digital and leading Cisco's Networking and Security Business. His expertise in cloud computing, cybersecurity, and business innovation is expected to drive ADP's growth and digital transformation in human capital management solutions. The Board plans to return to a smaller size of 10 directors in the future.

According to the January 2022 ADP National Employment Report, private sector employment dropped by 301,000 jobs from December to January. Small businesses were notably affected, losing 144,000 jobs, while medium and large businesses lost 59,000 and 98,000 jobs respectively. The service-providing sector saw a significant decline of 274,000 jobs, with leisure and hospitality suffering the largest losses. Overall, this marks the first job decline since December 2020, largely influenced by the Omicron variant's impact during the recovery phase.