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ADP February: Private Hiring Ticks Up 63,000, Pay for Stayers Climbs 4.5%
business1 day ago

ADP February: Private Hiring Ticks Up 63,000, Pay for Stayers Climbs 4.5%

ADP’s February National Employment Report shows private-sector payrolls rose by 63,000, with year-over-year pay for job-stayers up 4.5% and pay for job-changers at 6.3%; hiring was strongest in construction and education/health services, with small establishments driving most gains (about 60,000). Pay gains for staying workers remained steady while the pay premium for switching jobs hit a record low, and January’s job total was revised downward (22,000 to 11,000).

via PR Newswire|
#adp#business#employment
US Private Sector Adds 42,000 Jobs in October, Surpassing Expectations
business4 months ago

US Private Sector Adds 42,000 Jobs in October, Surpassing Expectations

In October, the US private sector added 42,000 jobs, marking a rebound after two months of weak hiring, with pay growth remaining flat at 4.5% year-over-year for job-stayers. The report highlights modest job gains in education, healthcare, and trade, while employment declined in professional services and leisure. Pay increases varied slightly by industry and firm size, with larger firms seeing the most growth.

via PR Newswire|
#adp-report#business#employment
The Impact of a Cooling Job Market on American Employment
economy2 years ago

The Impact of a Cooling Job Market on American Employment

Blue-collar workers in the United States have experienced stronger hiring, more job opportunities, and faster pay growth compared to their white-collar counterparts. While the job market is slowing down, unemployment remains low and labor force participation is high. However, job gains have slowed, and white-collar employers, particularly in the tech sector, have reduced hiring. In contrast, job postings for manufacturing roles have increased significantly. Blue-collar workers with lower education levels have seen substantial employment growth, while wages in blue-collar fields have outpaced inflation. Nonetheless, the earnings gap between blue-collar and white-collar workers persists, and the economic situation for blue-collar workers, despite wage gains, remains challenging.

via NBC News|
#blue-collar-workers#economy#job-market
The diminishing allure of job hopping: The fading new-hire glow
businessemployment2 years ago

The diminishing allure of job hopping: The fading new-hire glow

The pay premium for new hires has significantly decreased in recent months, with year-over-year pay growth falling to just 2.9% in September, compared to a 10% jump earlier in the year. Lower quit rates, increasing labor supply, and falling worker demand are contributing factors to the slowing wage growth. Industries such as finance and technology have been hit particularly hard, with pay growth at a standstill or even decreasing. Jobseekers are experiencing lower salaries and fewer negotiation opportunities compared to the "golden age for jobseekers" in 2021 and early 2022. Employers are hesitant to give pay raises to new hires to avoid exacerbating pay equity issues and to retain existing employees. Instead, they are offering low-cost benefits to attract talent.

via CNBC|
#businessemployment#job-market#labor-supply
UK Public Sector Sees Strong Pay Growth Amid Slowing Wage Growth
economy2 years ago

UK Public Sector Sees Strong Pay Growth Amid Slowing Wage Growth

A survey by the Chartered Institute of Personnel and Development (CIPD) revealed that strong pay growth in the UK's private sector will be matched in the public sector, with both sectors planning 5% pay rises. This indicates the largest pay rise for public workers since 2012. The survey also showed that 51% of public-sector employers reported hard-to-fill vacancies, compared to 38% in the private sector. Additionally, a quarter of organizations with hard-to-fill vacancies plan to introduce or increase automation. The Bank of England expects wage growth of 4.25% next year, despite falling headline inflation and signs of economic stagnation.

via Reuters UK|
#economy#inflation#pay-growth
"October Sees 113,000 Job Increase and 5.7% Rise in Annual Pay: ADP Report"
business2 years ago

"October Sees 113,000 Job Increase and 5.7% Rise in Annual Pay: ADP Report"

According to the ADP National Employment Report, private sector employment in the US increased by 113,000 jobs in October, with annual pay up 5.7% year-over-year. The report provides insights into job growth and pay trends based on anonymized payroll data. While no single industry dominated hiring, leisure and hospitality, education, and healthcare were the top job creators. Pay growth slowed to a two-year low, with job-stayers experiencing a 5.7% increase in pay, while job-changers saw an 8.4% increase. Despite a slowdown in the labor market, consumer spending remains strong.

via PR Newswire|
#adp#business#job-growth
"September Sees 89,000 Job Increase and 5.9% Annual Pay Rise: ADP Report"
economic-report2 years ago

"September Sees 89,000 Job Increase and 5.9% Annual Pay Rise: ADP Report"

According to the September ADP National Employment Report, private sector employment in the US increased by 89,000 jobs in September, while annual pay was up 5.9% year-over-year. The report also highlighted a decline in job growth and wages over the past 12 months. Large establishments drove the slowdown in job growth, losing 83,000 jobs, while pay gains slowed for both job stayers and job changers.

via PR Newswire|
#adp#economic-report#jobs
August ADP Jobs Report Shows Unexpected Cooling
economy2 years ago

August ADP Jobs Report Shows Unexpected Cooling

The ADP jobs report for August showed an increase of 177,000 jobs, falling short of the expected 200,000 and a significant drop from July's revised figure of 371,000. Annual pay growth also slowed to 5.9% from 6.2% in July. The report suggests a shift towards more sustainable job and pay growth as the economy recovers from the pandemic, with the service sector leading job gains and manufacturing adding 12,000 jobs.

via Seeking Alpha|
#adp-jobs-report#economy#job-creation
"August Sees 177,000 Job Increase and 5.9% Rise in Annual Pay: ADP Report"
economic-report2 years ago

"August Sees 177,000 Job Increase and 5.9% Rise in Annual Pay: ADP Report"

According to the ADP National Employment Report, private sector employment in the US increased by 177,000 jobs in August, with annual pay up 5.9% year-over-year. The report, based on actual payroll data of over 25 million US employees, provides a high-frequency view of the private-sector labor market. Job growth slowed, particularly in the leisure and hospitality sector, but overall numbers are consistent with pre-pandemic levels. Pay growth also decelerated, with job stayers experiencing a 5.9% increase and job changers seeing a 9.5% increase in annual pay.

via PR Newswire|
#adp#economic-report#employment
"July Sees 324,000 Job Increase and 6.2% Rise in Annual Pay: ADP Report"
economic-report2 years ago

"July Sees 324,000 Job Increase and 6.2% Rise in Annual Pay: ADP Report"

According to the ADP National Employment Report, private sector employment in the US increased by 324,000 jobs in July, with annual pay up 6.2% year-over-year. Job creation remained strong, driven by the leisure and hospitality sector, although manufacturing saw a decline in employment. Pay growth slowed down, with job stayers experiencing the slowest pace of gains since November 2021. The report provides a detailed breakdown of employment changes by industry sector, region, and establishment size.

via PR Newswire|
#adp-national-employment-report#economic-report#job-growth
Private sector job growth falls short of expectations in March: ADP report.
business2 years ago

Private sector job growth falls short of expectations in March: ADP report.

Private sector employment in the US increased by 145,000 jobs in March, while annual pay was up 6.9% YoY, according to the ADP National Employment Report. The report, which uses anonymised payroll data from over 25 million US employees, also revealed that pay growth decelerated for both job stayers and job changers, with year-over-year gains falling to 6.9% from 7.2% in February for job stayers. ADP's chief economist, Nela Richardson, said the data was one of several signals that the economy is slowing.

via PR Newswire|
#adp#business#employment