Private sector employment increased by 143,000 jobs in September; Annual salary increased by 4.7%

ROSELAND, N.J, Oct 2, 2024 /PRNewswire/ — Private sector employment increased by 143,000 jobs in September and annual wages rose 4.7 percent year over year, it said ADP^® National Employment Report^TM produced by ADP Research in collaboration with the Stanford Digital Economy Lab (“Stanford Lab“). The ADP National Employment Report is an independent measurement and high-frequency look at the private sector labor market based on actual, anonymized wage and salary data from more than 25 million U.S. workers.

The jobs report and wage insights leverage ADP's fine-grained anonymized and aggregated wage and salary data to provide a representative picture of the private sector labor market. The report includes details of the current month's total private employment change as well as weekly jobs data from the previous month. Because the underlying ADP salary databases are continually updated, the report provides a high-frequency, near-real-time measurement of U.S. employment. This metric reflects the number of employees on the payroll of ADP customers (Payroll Employment) to provide a better understanding of the labor market. ADP's salary measurement uniquely captures the earnings of a cohort of nearly 10 million workers over a 12-month period.

“Stronger hiring did not require stronger wage growth last month,” he said Nela RichardsonChief Economist, ADP. “Typically, workers who change jobs see faster wage growth. But their premium over those who don’t keep their jobs fell to 1.9 percent, reaching a low we last saw in January.”

September 2024 Report highlights*

Check them out ADP National Employment Report and interactive charts at www.adpemploymentreport.com.

JOB REPORT

Private employers created 143,000 jobs in September
After a five-month slowdown, there was an overall recovery in job creation. Just one sector, information, lost jobs. New jobs were created in the manufacturing sector for the first time since April.

Changes in private employment in the USA: 143,000

Change by industry

– Goods producers: 42,000

Mineral resources/mining 14,000
Construction 26,000
Producing 2,000

– Service provider: 101,000

Trade/Transportation/Supply 14,000
information –10,000
Financial activities 2,000
Professional/Business Services 20,000
Education/Health Services 24,000
Leisure/Hospitality 34,000
Other services 17,000

Change by US regions

– Northeast: 32,000

New England 7,000
Mid-Atlantic 25,000

– Midwest: 26,000

East-North-Central 18,000
West-North-Central 8,000

– South: 61,000

South Atlantic 27,000
East-south-central –9,000
West-South-Central 43,000

– West: 22,000

Mountain 1,000
Pacific 21,000

Change according to company size

– Small businesses: -8,000

1-19 employees –13,000
20-49 employees 5,000

– Medium-sized companies: 64,000

50-249 employees 49,000
250-499 employees 15,000

– Large companies: 86,000

500+ employees 86,000

PAYMENT INSIGHTS

Wage growth slowed in September
Year-on-year wage increases for job stayers fell slightly to 4.7 percent in September. The decline was greater among career changers, falling from 7.3 percent in August to 6.6 percent.

Mean change in annual salary (ADP-matched individual sample)

– Job stayer 4.7%

– Job changer 60.6%

Mean change in annual wages for job stayers by industry

– Goods producers:

Mineral resources/mining 3.6%
Construction 5.1%
Manufacturing 4.6%

– Service provider:

Trade/transport/utilities 4.5%
Information 4.4%
Financial activities 4.9%
Professional/Business Services 4.6%
Education/Health Services 5.1%
Leisure/hospitality 4.7%
Other services 4.8%

Mean change in annual wages for job stayers by company size

– Small companies:

1-19 employees 4.0%
20-49 employees 4.6%

– Medium-sized companies:

50-249 employees 5.0%
250-499 employees 4.8%

– Large companies:

500+ employees 4.7%

For insights into job stayer pay by US state, gender and age, visit here:

*The sum of components may not equal the total due to rounding.

The total number of jobs created in August was revised from 99,000 to 103,000. The historical data file and weekly data for the previous month are available at https://adpemploymentreport.com/.

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The October 2024 ADP National Employment Report will be published at 8:15 a.m. ET To October 30, 2024.

About the ADP® National Employment Report™
The ADP National Employment Report is an independent measure of change in U.S. private employment and wages derived from actual, anonymized payroll data from client companies served by ADP, a leading provider of human capital management solutions. The report was prepared by ADP Research in collaboration with the Stanford Digital Economy Lab.

The ADP National Employment Report is distributed free to the public each month as part of the company's commitment to providing deeper insights into the U.S. labor market and providing businesses and governments with a source of credible and valuable information.

About ADP research
ADP Research's mission is to make the future of work more productive through data-driven discovery. Businesses, workers and policymakers rely on our fine-grained data and unique perspective to make informed decisions that impact jobs around the world.

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