Private sector employment rose by 150,000 jobs in June; annual wages rose 4.9%

ROSELAND, NJ, July 3, 2024 /PRNewswire/ — Private-sector employment rose by 150,000 jobs in June, and annual wages rose 4.9 percent year over year, according to a June report ADP^® National Employment Report™ produced by ADP Research Institute^® in collaboration with Stanford Digital Economy Lab (“Stanford Laboratory“). The ADP National Employment Report is an independent measure and common snapshot of the private-sector labor market, based on actual, anonymized compensation data for more than 25 million U.S. workers.

The Jobs Report and Payroll Insights leverage ADP’s detailed, de-identified, and aggregated payroll data to provide a representative snapshot of the private sector labor market. The report details the total change in private sector employment for the current month and weekly employment data for the previous month. Because ADP’s underlying payroll databases are continually updated, the report provides a high-frequency, near-real-time measure of U.S. employment. This measure reflects the number of workers on ADP’s client payrolls (Payroll Employment) to provide a richer understanding of the labor market. ADP’s Payroll Measure uniquely reflects the earnings of a cohort of nearly 10 million workers over a 12-month period.

“Job growth was solid but not widespread,” he said. Nela Richardsonchief economist, ADP. “If it weren’t for the rebound in employment in the leisure and hospitality industries, June would have been a pessimistic month.”

June 2024 The most important information in the report*

Look ADP National Employment Report and interactive charts at www.adpemploymentreport.com.

WORK REPORT

Private employers added 150,000 jobs in June
The pace of job creation among private employers slowed for the third month in a row.

Change in Private Employment in the US: 150,000

Change by Industry Sector

– Production of goods: 14,000

Natural Resources/Mining -8000
Construction 27,000
Production -5000

– Provision of services: 136,000

Trade/transport/utility 15,000
Information -3000
Financial activities 11,000
Professional/Business Services 25,000
Education/Healthcare 9000
Leisure/hospitality 63,000
Other services 16,000

Change by US Region

– Northeast: 31,000

– Midwest: 26,000

East North Central 14,000
West North Center 12,000

– South: 80,000

South Atlantic 47,000
East South Central -7000
West South Central 40,000

– West: 4000

Top 1000
Pacific 3000

Change by plant size

– Small establishments: 5,000

1-19 employees 13,000
20-49 employees -8000

– Average Bets: 88,000

50-249 employees 65,000
250-499 employees 23,000

– Large establishments: 58,000

PAY REQUESTS

Wage growth for those still on the job market slowed in June
In June, year-on-year wage growth among those still in the labour market was 4.9 per cent, the slowest pace of growth in August 2021Wage growth for job changers also fell to 7.7 per cent.

Median change in annual salary (ADP matched sample)

– People remaining at work 4.9%

– Job changers 7.7%

Median change in annual earnings for those remaining in the labor force by industry sector

– Production of goods:

– Provision of services:

Trade/transport/utility services 4.6%
Information 4.5%
Financial activities 5.0%
Professional/business services 4.8%
Education/Healthcare 5.3%
Leisure/hospitality 5.2%
Other services 5.2%

Median change in annual wage for those who remain in employment by firm size

– Small businesses:

– Medium-sized companies:

– Big companies:

For salary statistics by U.S. state, gender, and age of job holders, visit this page:

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

Total job additions in May were revised from 152,000 to 157,000. The historical data file and weekly data for the previous month are available at https://adpemploymentreport.com/.

To sign up for monthly email alerts or for additional information about the ADP National Employment Report, including employment and compensation data, interactive charts, methodology and a calendar of release dates, visit https://adpemploymentreport.com/.

This July 2024 ADP National Employment Report will be released at 8:15 a.m. EST ON July 31, 2024.

ABOUT ADP® National Employment Report™ The ADP National Employment Report is an independent measure of changes in private-sector employment and wages in the U.S., based on actual, anonymized payroll data from client firms served by ADP, a leading provider of human capital management solutions. The report is produced by the ADP Research Institute in partnership with the Stanford Digital Economy Lab.

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

About ADP® Research Institute
ADP Research Institute delivers data-driven discoveries about the world of work and derives credible economic indicators from those insights. We offer these discoveries as a unique contribution to improving the world of work and increasing its productivity by providing actionable insights for the economy as a whole.

About ADP (NASDAQ – ADP)
Designing better ways to work with cutting-edge products, premium services, and exceptional experiences that empower people to reach their full potential. HR, Talent, Time Management, Benefits, and Payroll. Data-driven and designed for people. Learn more at ADP.com

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