ADP US National Employment Report: Private Sector Employment Increased by 63,000 Jobs in February; Annual Pay was Up 4.5%
Private sector employment increased by 63,000 jobs in February and pay was up 4.5 percent year-over-year according to the February ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP's Pay Insights captures over 15 million individual pay change observations each month. Together, the jobs report and pay insights use ADP's fine-grained data to provide a representative and high-frequency picture of the private-sector labor market.
"We've seen an increase in hiring and pay gains remain solid, especially for job-stayers," said Dr. Nela Richardson, chief economist, ADP. "But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a record low in February."
#modishan #GoldSilverOilSurge #NewGlobalUS15%TariffComingThisWeek #USIranWarEscalation #USADPJobsReportBeatsForecasts
Private sector employment increased by 63,000 jobs in February and pay was up 4.5 percent year-over-year according to the February ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP's Pay Insights captures over 15 million individual pay change observations each month. Together, the jobs report and pay insights use ADP's fine-grained data to provide a representative and high-frequency picture of the private-sector labor market.
"We've seen an increase in hiring and pay gains remain solid, especially for job-stayers," said Dr. Nela Richardson, chief economist, ADP. "But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs. In fact, the pay premium for switching employers hit a record low in February."
#modishan #GoldSilverOilSurge #NewGlobalUS15%TariffComingThisWeek #USIranWarEscalation #USADPJobsReportBeatsForecasts