ADP National Employment Report: Private Sector Employment Increased by 278,000 Jobs in May; Annual Pay was Up 6.5%
ROSELAND, N.J., June 1, 2023 /PRNewswire/ -- Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year, according to the May ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab").
The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month's total private employment change, and weekly job data from the previous month. ADP's pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.
"This is the second month we've seen a full percentage point decline in pay growth for job changers," said Nela Richardson, chief economist, ADP. "Pay growth is slowing substantially, and wage-driven inflation may be less of a concern for the economy despite robust hiring."
May 2023 Report Highlights*
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
Private employers added 278,000 jobs in May
Change in U.S. Private Employment: 278,000
Change by Industry Sector
- Goods-producing: 110,000
- Service-providing: 168,000
Change by U.S. Regions
- Northeast: 197,000
- Midwest: 139,000
- South: -204,000
- West: 134,000
Change by Establishment Size
- Small establishments: 235,000
- Large establishments: -106,000
Pay gains slowed again in May
Median Change in Annual Pay (ADP matched person sample)
- Job-Stayers 6.5%
- Job-Changers 12.1%
Median Change in Annual Pay for Job-Stayers by Industry Sector
Median Change in Annual Pay for Job-Stayers by Firm Size
- Small firms:
- Medium firms:
- Large firms:
To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here:
* Sum of components may not equal total, due to rounding.
The April total of jobs added was revised from 296,000 to 291,000. The historical data file, and weekly data for the previous month, is available at https://adpemploymentreport.com/.
To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.
The June 2023 ADP National Employment Report will be released at 8:15 a.m. ET on July 6, 2023.
About the ADP® National Employment Report™ The ADP National Employment Report is an independent estimate of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information.
About the ADP Research Institute®
About ADP (NASDAQ – ADP)
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Copyright © 2023 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.
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