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ADP National Employment Report Increased by 208,000 jobs in September 2022
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Private sector employment increased by 208,000 jobs in September and annual pay was up 7.8% year-over-year, according to the September ADP® National Employment Report. “We are continuing to see steady job gains,” said Nela Richardson, chief economist, ADP. “While job stayers saw a pay increase, annual pay growth for job changers in September is down from August.”
"There are signs that people are returning to the labor market. We're in an interim period where we're going to continue to see steady job gains. Employer demand remains robust and the supply of workers is improving--for now."
Businesses created 208,000 jobs in September, up from a revised 185,000 in August, as schools reopened and pandemic concerns receded. But while job growth is stable, it remains below the recent three-month average.
Job changers, who have been notching double-digit, year-over-year gains since the summer of 2021, lost momentum in September. Their annual pay rose 15.7 percent, down from a revised 16.2 percent gain in August. It's the biggest deceleration in the three-year history of our data. For job stayers, annual pay rose 7.8 percent in September from a year ago, up from a revised 7.7 percent in August.
Posted: October 5, 2022 Wednesday 08:15 AM