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HomeNewsJune 2024 ADP National Employment Report: Private Sector Adds 150,000 Jobs

June 2024 ADP National Employment Report: Private Sector Adds 150,000 Jobs

June 2024 ADP National Employment Report: Private Sector Adds 150,000 Jobs
ADP National Employment Report: Private Sector Employment Increased by 150,000 Jobs in June; Annual Pay was Up 4.9%

According to the June ADP National Employment Report by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, private sector employment in the U.S. increased by 150,000 jobs in June, with annual pay up 4.9% year-over-year. This report offers a high-frequency view of the private-sector labor market based on anonymized payroll data from over 25 million U.S. employees.

Report Highlights

  • Overall Employment Change
    • Private employers added 150,000 jobs in June.
    • Job creation among private employers slowed for the third consecutive month.
  • Job Growth by Industry Sector
    • Goods-producing: +14,000 jobs
      • Natural resources/mining: -8,000
      • Construction: +27,000
      • Manufacturing: -5,000
    • Service-providing: +136,000 jobs
      • Trade/transportation/utilities: +15,000
      • Information: -3,000
      • Financial activities: +11,000
      • Professional/business services: +25,000
      • Education/health services: +9,000
      • Leisure/hospitality: +63,000
      • Other services: +16,000
  • Job Growth by Region
    • Northeast: +31,000 jobs
      • New England: +7,000
      • Middle Atlantic: +24,000
    • Midwest: +26,000 jobs
      • East North Central: +14,000
      • West North Central: +12,000
    • South: +80,000 jobs
      • South Atlantic: +47,000
      • East South Central: -7,000
      • West South Central: +40,000
    • West: +4,000 jobs
      • Mountain: +1,000
      • Pacific: +3,000
  • Job Growth by Establishment Size
    • Small establishments: +5,000 jobs
      • 1-19 employees: +13,000
      • 20-49 employees: -8,000
    • Medium establishments: +88,000 jobs
      • 50-249 employees: +65,000
      • 250-499 employees: +23,000
    • Large establishments: +58,000 jobs
      • 500+ employees: +58,000

Pay Insights

  • Overall Pay Growth
    • Year-over-year pay gains for job-stayers slowed to 4.9% in June, the slowest pace since August 2021.
    • Pay gains for job-changers also slowed to 7.7%.
  • Median Change in Annual Pay for Job-Stayers by Industry Sector
    • Goods-producing:
      • Natural resources/mining: 4.2%
      • Construction: 5.3%
      • Manufacturing: 4.7%
    • Service-providing:
      • Trade/transportation/utilities: 4.6%
      • Information: 4.5%
      • Financial activities: 5.0%
      • Professional/business services: 4.8%
      • Education/health services: 5.3%
      • Leisure/hospitality: 5.2%
      • Other services: 5.2%
  • Median Change in Annual Pay for Job-Stayers by Firm Size
    • Small firms:
      • 1-19 employees: 4.1%
      • 20-49 employees: 4.8%
    • Medium firms:
      • 50-249 employees: 5.1%
      • 250-499 employees: 4.9%
    • Large firms:
      • 500+ employees: 4.9%

Conclusion

The June 2024 ADP National Employment Report reveals a modest increase in private sector employment and highlights a deceleration in pay gains. Job growth was most notable in the leisure and hospitality sector, while other sectors showed mixed results. Regional data indicates significant growth in the South and Northeast, with smaller increases in the Midwest and West.