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Economy in Brief

U.S. ADP: Job Growth Is Improving
by Tom Moeller  June 3, 2015

The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 201,000 during May following a 165,000 April increase, revised from 169,000. The latest rise was the firmest since January and beat consensus expectations for a 188,000 increase in the Action Economics Forecast Survey.

The ADP survey is based on ADP's business payroll transaction system covering 411,000 companies and nearly 24 million employees. The data are processed by Moody's Analytics Inc., then calibrated and aligned with the BLS establishment survey data.

Small-sized payrolls jumped 122,000 (2.7% y/y), the firmest rise increase since December. Medium-sized payrolls rose a steady 65,000 (2.3% y/y) in May. Large payrolls rebounded with a 13,000 increase (1.7% y/y) though that still was down from the 80,000 increase in September.

Employment in the goods-producing sector nudged 9,000 higher (2.1% y/y), compared to a 64,000 peak rise in September. Hiring in the construction sector remained firm and posted a 27,000 increase (5.3% y/y) while manufacturing sector businesses shed another 5,000 workers (+1.0% y/y), the third consecutive month of decline. Jobs in the service sector increased 192,000 (2.4% y/y), the strongest gain since December. Jobs in trade, transportation & utilities increased 56,000 (2.0% y/y). Professional & business employment gained 28,000 (2.9% y/y) while employment in the financial sector improved 12,000 (1.7% y/y).

The ADP National Employment Report data are maintained in Haver's USECON database; historical figures date back to April 2001. The figures in this report cover jobs only in the private sector. The expectation figure is available in Haver's AS1REPNA database.

ADP/Moody's National Employment Report May Apr Mar Y/Y 2014 2013 2012
Nonfarm Private Payroll Employment (m/m chg, 000s) 201 165 176 2.4% 2.3% 1.9% 2.3%
 Small Payroll (1-49) 122 97 110 2.7 2.1 1.9 2.5
 Medium Payroll (50-499) 65 65 60 2.3 2.8 2.2 2.1
 Large Payroll (>500) 13 3 5 1.7 1.8 1.6 2.1
Goods-Producing 9 1 1 2.1 2.3 1.7 2.2
  Construction 27 24 19 5.3 4.6 3.5 2.5
  Manufacturing -5 -8 -1 1.0 1.2 0.9 1.6
Service-Producing 192 164 175 2.4 2.3 2.0 2.3
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