ROSELAND, NJ--(Marketwire - Nov 1, 2012) - Private sector employment increased by 158,000 jobs from September to October, according to the October ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
October 2012 Report Highlights
Click here to view the ADP National Employment Report Infograph
Total U.S. Nonfarm Private Employment: 158,000
- By Company Size
- Small businesses: 50,000
- 1-19 employees 18,000
- 20-49 employees 32,000
- Medium businesses: 27,000
- Large businesses: 81,000
- 500-999 employees 12,000
- 1,000+ employees 69,000
- By Sector
- Goods producing 14,000
- Service providing 144,000
- Industry Snapshot
- Construction 23,000
- Manufacturing -8,000
- Trade/transportation/utilities 24,000
- Financial activities 9,000
- Professional/business services 35,000
Goods-producing employment rose by 14,000 jobs in October after declining in the two prior months. Gains in construction jobs of 23,000 more than offset the 8,000 decline in manufacturing employment.
Service-providing jobs increased by 144,000. Among the service industries reported by the ADP National Employment Report, professional/business services had the largest gain with 35,000 jobs added over the month. Trade/transportation/utilities added 24,000 jobs and financial activities added 9,000 jobs in October.
Carlos A. Rodriguez, president and chief executive officer of ADP, said, "Today marks the first ADP National Employment Report with Moody's Analytics as our partner. Our new format leverages ADP's unique client data in a more robust way to provide greater insights on employment in the United States."
Mark Zandi, chief economist of Moody's Analytics, said, "Businesses are adding consistently to their payrolls. October's job gains were in line with the average monthly gains of the past two years, with sturdy albeit less than stellar growth across most industries and company sizes. Businesses have turned more cautious in recent months, but that has yet to impact their hiring and firing decisions."
To see Chart 1. Change in Total Nonfarm Private Employment, please click here: http://media.marketwire.com/attachments/201210/98510_ADP-OCT2012-NERchart1.gif
To see Chart 2. Historical Trend - Change in Total Nonfarm Private Employment, please click here: http://media.marketwire.com/attachments/201210/98514_ADP-OCT2012-NERchart2.gif
To see Chart 3. Change in Nonfarm Private Employment by Selected Industry, please click here: http://media.marketwire.com/attachments/201210/98515_ADP-OCT2012-NERchart3.gif
To see Chart 4. Change in Nonfarm Private Employment by Company Size, please click here: http://media.marketwire.com/attachments/201210/98517_ADP-OCT2012-NERchart4.gif
Businesses with 49 or fewer employees added 50,000 jobs in October. Employment levels among medium-sized companies with 50-499 employees, rose by 27,000, while employment at large companies -- those with 500 or more employees -- increased by 81,000.
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which, year to date represents 406,000 U.S. clients employing more than 23 million workers in the U.S.
ADP Small Business Report®:
Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported in the ADP Small Business Report® each month. The ADP Small Business Report is a subset of the ADP National Employment Report.
October Small Business Highlights*
- By Size:
- 1-19 employees 18,000
- 20-49 employees 32,000
- By Sector for 1-49 Employees:
- Goods producing 7,000
- Service providing 43,000
- By sector for 1-19 employees:
- Goods producing 2,000
- Service providing 16,000
- By sector for 20-49 employees:
- Goods producing 4,000
- Service providing 27,000
* Sum of components may not equal total, due to rounding.
Additional information about small business employment, including charts on monthly job growth and employment levels along with historical data, is available at www.adpemploymentreport.com/SBS-NER-November2012.aspx.
To obtain additional information about the ADP National Employment Report, including additional charts, supporting data and the schedule of future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit www.adpemploymentreport.com.
The November 2012 ADP National Employment Report will be released at 8:15 a.m. ET on December 5, 2012.
About the ADP National Employment Report®
The ADP National Employment Report® is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of client companies served by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions. The report is produced by the ADP Research Institute, a specialized group within the company that provides insights around employment trends and workforce strategy, in collaboration with Moody's Analytics, Inc.
The ADP National Employment Report's measure of employment is derived from an anonymous subset of roughly 406,000 U.S. clients, which employ more than 23 million U.S. workers. The ADP Small Business Report is a monthly estimate of private nonfarm employment among companies in the U.S. with 1-49 employees and is a subset of the ADP National Employment Report. The data for both reports is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP's total base of U.S. business clients.
For a description of the underlying data and the statistical model used to create this report, please see "ADP National Employment Report: Development Methodology" at www.adpemploymentreport.com/docs/ADP-NER-Methodology-Full-Detail.pdf.
About Moody's Analytics
Moody's Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including the proprietary analysis of Moody's Investors Service, Moody's Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $2.3 billion in 2011, employs approximately 6,500 people worldwide and has a presence in 28 countries. Further information is available at www.moodysanalytics.com.
Automatic Data Processing, Inc. (NASDAQ: ADP), with more than $10 billion in revenues and approximately 600,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's website at www.ADP.com.
The ADP logo, ADP, ADP National Employment Report, and ADP Small Business Report are registered trademarks of ADP, Inc. ADP Research Institute is a service mark of ADP, Inc. Copyright © 2012, ADP, Inc.