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ADP National Employment Report: Private Sector Employment Increased by 99,000 Jobs in August; Annual Pay was Up 4.8%
ROSELAND, N.J. ? September 5, 2024 ? Private sector employment increased by 99,000 jobs in August
and annual pay was up 4.8 percent year-over-year, according to the August ADP¢ç National Employment
ReportTM produced by ADP Research in collaboration with the Stanford Digital Economy Lab (¡°Stanford
Lab¡±). The ADP National Employment Report is an independent measure and high-frequency view of the
private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S.
employees.
The jobs report and pay insights use ADP¡¯s fine-grained anonymized and aggregated payroll data to
provide a representative picture of the private-sector labor market. The report details the current month¡¯s
total private employment change, and weekly job data from the previous month. Because the underlying
ADP payroll databases are continuously updated, the report provides a high-frequency, near real-time
measure of U.S. employment. This measure reflects the number of employees on ADP client payrolls
(Payroll Employment) to provide a richer understanding of the labor market. ADP¡¯s pay measure uniquely
captures the earnings of a cohort of almost 10 million employees over a 12-month period.
¡°The job markets downward drift brought us to slower-than-normal hiring after two years of outsized
growth,¡± said Nela Richardson, chief economist, ADP. ¡°The next indicator to watch is wage growth, which
is stabilizing after a dramatic post-pandemic slowdown.¡±
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