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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.
In October, private sector employment rose by 239,000 jobs, surpassing the previous month's revised figure of 192,000. Annual pay increased by 7.7%, consistent with recent months. The report highlights sector-specific employment changes, with goods-producing industries showing a decline of 8,000 jobs, while service-providing sectors saw an increase of 247,000 jobs. Notably, the West region added 229,000 jobs. However, job changers experienced a drop in pay growth, indicating potential economic strain in sensitive sectors.
ADP announced the appointment of Maria Black as its new CEO, effective January 1, 2023, succeeding Carlos Rodriguez, who will transition to Executive Chair of the Board. Black, currently president, has over two decades of experience at ADP, including leadership roles in sales and marketing. Rodriguez has led the company since November 2011, overseeing significant growth and innovation. The Board expressed confidence in Black's ability to continue ADP's success and respond to clients' needs.
ADP (Nasdaq: ADP) reported its first quarter fiscal 2023 financial results on October 26, 2022. The company provided a revised fiscal 2023 outlook and announced a conference call for financial analysts. During the call, ADP expects to discuss supplementary financial information, including quarterly and full-year segment revenues for fiscal years 2021, 2022, and 2023. Investors can access all relevant information on ADP's investor relations website. This event highlights ADP's commitment to transparency and engagement with its shareholders.
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ADP's September National Employment Report reveals a strong private sector job increase of 208,000 jobs, up from 185,000 in August, alongside a 7.8% year-over-year growth in annual pay. Notably, job growth is below the three-month average, and job changers experienced a decline in pay growth to 15.7%. The report shows significant job creation across service-providing sectors, with the South leading with 89,000 jobs. While the labor market remains stable, annual pay growth for job changers has slowed, marking a significant change in trends.
ADP has been recognized as the 2022 Top Company for Women Technologists in the Large Technical Workforce category by AnitaB.org, marking the third consecutive year of this honor. This program evaluates gender and racial representation in technical roles across over 400,000 employees from 52 companies. ADP scored highest among those with more than 10,000 technical staff, showcasing its commitment to gender equity and inclusion in the workplace. The recognition highlights ADP’s initiatives, such as the Advancing Women in Leadership Program, aimed at empowering women in technology.
ADP (Nasdaq: ADP) will announce its financial results for the first fiscal quarter ending September 30, 2022, on October 26, 2022, before the Nasdaq opens. A conference call will commence at 8:30 a.m. ET the same day, featuring CEO Carlos Rodriguez and other executives. The financial results will be accessible via the Investor Relations section on ADP's website, with a news alert to notify the public. Investors can participate in the call through a live webcast and view the slide presentation shortly before the event.
ADP announced that private sector employment increased by 132,000 jobs in August 2022, according to the ADP National Employment Report. Annual pay growth was reported at 7.6%, consistent with previous months since Spring 2022. Job creation has shown a decline from nearly 270,000 jobs in the previous month. The report suggests a shift to a slower hiring pace as companies navigate economic uncertainties. Additionally, insights reveal significant regional variations in job creation across the U.S., with the South leading at 76,000 jobs added.
ADP has partnered with Managed Health to introduce the Managed Health Champ Plan, an innovative healthcare solution aimed at enhancing employee benefits while providing cost savings for businesses. This independent benefit plan offers employees improved access to healthcare services at a zero net-out-of-pocket cost. The plan is designed to complement existing corporate health insurance and features a structured Section 125 plan to yield significant savings for employers. ADP will provide this alongside its RUN Powered by ADP Enhanced Payroll service.
ADP and the Stanford Digital Economy Lab will release the August 2022 non-farm private jobs report on August 31, 2022, at 8:15 a.m. ET. The report includes data from over 25 million U.S. workers, providing insights into the labor market.
ADP's pay measure analyzes salaries of about 10 million employees over a 12-month span, contributing to a comprehensive overview of employment changes. Following the report, ADP Chief Economist, Dr. Nela Richardson, will discuss the findings in a media conference call.