According to the February ADP® National Employment Report, a collaboration between the ADP Research Institute® and the Stanford Digital Economy Lab (“Stanford Lab”), employment in the private sector saw a rise of 140,000 jobs in February.
Furthermore, annual pay also experienced a significant increase of 5.1 percent compared to the previous year.
The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market.
The report details the current month’s total private employment change and weekly job data from the previous month. Because the underlying ADP payroll databases are continuously updated, the report provides a high-frequency, near-real-time measure of U.S. employment.
This measure reflects the number of employees on ADP client payrolls (Payroll Employment) to provide a richer understanding of the labor market. ADP’s pay measure uniquely captures the earnings of a cohort of almost 10 million employees over 12 months.
In terms of job changers, there was a notable increase in year-over-year pay gains, reaching 7.6 percent. This growth marked an improvement from the previous month and was the first increase since November 2022.
However, for job-stayers, the pace of pay gains continued to slow down, with an increase of 5.1 percent. This represents the smallest gain since August 2021.
The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees.
The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees. The detailed bifurcation according to industries can be viewed by clicking here.
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