Private sector employment increased by 103,000 jobs in November and annual pay was up 5.6 percent year-over-year, according to the November ADP® National Employment Report™produced by the ADP Research Institute® 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.
“Restaurants and hotels were the biggest job creators during the post-pandemic recovery,” said Nela Richardson, chief economist, ADP. “But that boost is behind us, and the return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring and wage growth in 2024.”
November 2023 Report Highlights*
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
JOBS REPORT
Private employers added 103,000 jobs in November
Last month brought moderate growth in hiring and another slowdown in pay gains. Both goods and services saw weakness, with leisure and hospitality and manufacturing posting declines.
Change in U.S. Private Employment: 103,000
Change by Industry Sector
– Goods-producing: -14,000
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