ADP National Employment Report: Private Sector Employment Increased by 178,000 Jobs in May
ROSELAND, N.J., May 30, 2018 /PRNewswire/ -- Private sector employment increased by 178,000 jobs from April to May according to the May ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
May 2018 Report Highlights*
View the ADP National Employment Report Infographic at www.adpemploymentreport.com.
Total U.S. Nonfarm Private Employment: 178,000
By Company Size
- Small businesses: 38,000
- 1-19 employees 15,000
- 20-49 employees 23,000
- Medium businesses: 84,000
- 50-499 employees 84,000
- Large businesses: 56,000
- 500-999 employees 23,000
- 1,000+ employees 34,000
By Sector
- Goods-producing: 64,000
- Natural resources/mining 11,000
- Construction 39,000
- Manufacturing 14,000
- Service-providing: 114,000
- Trade/transportation/utilities -23,000
- Information 2,000
- Financial activities 2,000
- Professional/business services 61,000
- Professional/technical services 20,000
- Management of companies/enterprises 5,000
- Administrative/support services 35,000
- Education/health services 35,000
- Health care/social assistance 26,000
- Education 9,000
- Leisure/hospitality 33,000
- Other services 5,000
* Sum of components may not equal total, due to rounding.
- Franchise Employment**
- Franchise jobs 29,500
**Complete details on franchise employment can be found here.
"The hot job market has cooled slightly as the labor market continues to tighten," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "Healthcare and professional services remain a model of consistency and continue to serve as the main drivers of growth in the services sector and the broader labor market as well."
Mark Zandi, chief economist of Moody's Analytics, said, "Job growth is strong, but slowing, as businesses are unable to fill a record number of open positions. Wage growth is accelerating in response, most notably for young, new entrants and those changing jobs. Finding workers is increasingly becoming businesses number one problem."
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which represents 411,000 U.S. clients employing nearly 24 million workers in the U.S. The April total of jobs added was revised down from 204,000 to 163,000.
To obtain additional information about the ADP National Employment Report, including additional charts, supporting data and the schedule of future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit www.adpemploymentreport.com.
The June 2018 ADP National Employment Report will be released at 8:15 a.m. ET on July 5, 2018.
About the ADP National Employment Report®
The ADP National Employment Report® is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of client companies served by ADP®, a leading provider of human capital management solutions. The report, which measures nearly 24 million U.S. workers, is produced by the ADP Research Institute®, a specialized group within the company that provides insights around employment trends and workforce strategy, in collaboration with Moody's Analytics, Inc.
Each month, ADP issues the ADP National Employment Report as part of the company's commitment to adding deeper insights into the U.S. labor market and providing businesses, governments and others with a source of credible and valuable information. The ADP National Employment Report is broadly distributed to the public each month, free of charge.
The data for this report is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP's total base of U.S. business clients.
For a description of the underlying data and the statistical model used to create this report, please see the ADP National Employment Report: Development Methodology.
About Moody's Analytics
Moody's Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services, and research, including the proprietary analysis of Moody's Investors Service, Moody's Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $3.5 billion in 2015, employs approximately 10,800 people worldwide and maintains a presence in 36 countries. Further information is available at www.moodysanalytics.com.
About ADP (NASDAQ: ADP)
Powerful technology plus a human touch. Companies of all types and sizes around the world rely on ADP cloud software and expert insights to help unlock the potential of their people. HR. Talent. Benefits. Payroll. Compliance. Working together to build a better workforce. For more information, visit ADP.com.
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