The November ADP National Employment Report, developed in collaboration with the Stanford Digital Economy Lab, reflects a snapshot of private-sector labor market trends using anonymized payroll data from over 25 million U.S. employees.
Key Employment Trends
1. Job Growth
- Private Sector: 146,000 jobs added in November.
- Strong growth attributed to large establishments (+120,000).
- Manufacturing showed notable weakness (-26,000), while education and health services led gains (+50,000).
2. Industry Highlights
- Goods-Producing Sectors:
- Natural resources/mining: +2,000.
- Construction: +30,000.
- Manufacturing: -26,000 (weakest performance since spring).
- Service-Providing Sectors:
- Education/Health Services: +50,000.
- Leisure/Hospitality: +15,000.
- Trade/Transportation/Utilities: +28,000.
3. Regional Changes
- Northeast: +38,000 (Middle Atlantic led with +48,000).
- South: +61,000 (South Atlantic contributed +42,000).
- Midwest: +31,000 (East North Central gained +26,000).
- West: +29,000 (Mountain region led with +18,000).
Pay Insights
1. Median Annual Pay Changes
- Job-Stayers: +4.8% year-over-year, the first acceleration in over two years.
- Job-Changers: +7.2%, reflecting higher wage growth for employees transitioning roles.
2. Pay Gains by Industry
- Top Increases:
- Education/Health Services: +5.1%.
- Construction: +5.2%.
- Leisure/Hospitality: +4.9%.
3. Pay Gains by Establishment Size
- Small firms (1–19 employees): +4.2%.
- Large firms (500+ employees): +4.7%.
Notable Observations
- Job Growth: While overall growth remained steady, smaller establishments lost jobs (-17,000).
- Industry Divergence: Manufacturing showed significant declines, while healthcare and education sectors continued to thrive.
- Pay Dynamics: Pay growth for job-stayers and job-changers reflects a competitive labor market, with substantial variation across industries and regions.
Data Source and Revisions
The November estimates incorporate data from the Quarterly Census of Employment and Wages (QCEW), prompting a downward revision for October’s report from 233,000 to 184,000.
For interactive charts and detailed data, visit the ADP National Employment Report.
