By Jorge Antonio Vázquez Buendía
May 5, 2024, 08:00 AM EDT
The April ADP National Employment Report, prepared by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab (Stanford Lab), shows that employment in the United States private sector increased by 192,000 jobs in April and that the wage annual increase 5.0 percent year over year.
The ADP National Employment Report is an independent measure and high-frequency view of the private sector labor market based on real, anonymized payroll data from more than 25 million U.S. employees.
“Hiring was widespread in April,” said Nela Richardson, chief economist at ADP. “Only the information sector (telecommunications, media and information technologies) showed weakness, recording job losses and the lowest rate of salary increase since August 2021.”
Highlights from the April 2024 report
· Private employers added 192,000 jobs in April.
· The average pace of hiring has accelerated over the past three months after slowing at the end of last year, nearly matching the gains made in the first half of 2023.
Wage increases for job changers slowed in April
· Year-over-year wage increases for those remaining in employment were little changed in April, at 5 percent.
· Wage growth for job changers fell from 10.1 percent in March to 9.3 percent, but is still higher than at the beginning of the year.
The employment report and salary information uses ADP’s detailed aggregated and anonymized payroll data to provide a representative picture of the private sector labor market. The report details the total change in private employment for the current month and weekly employment data for the previous month.
For more details of the report and its methodology, go here.
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