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☆ Private payrolls surged by 296,000 in April, much higher than expected, ADP says
▼ + stars: | 2023-05-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday. Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. An imbalance of demand over supply in the labor market has created strong wage gains that are reflected in persistent inflation pressures. "The slowdown in pay growth gives the clearest signal of what's going on in the labor market right now," Nela Richardson, ADP's chief economist, said. "Employers are hiring aggressively while holding pay gains in check as workers come off the sidelines."

☆ ‘We’re at a tipping point:’ What to expect from the jobs report
▼ + stars: | 2023-04-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. ET Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is set to release its March jobs report at 8:30 a.m.

☆ ‘We’re at a tipping point:’ What to expect from the jobs report on Friday
▼ + stars: | 2023-04-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. Just how much of a shift there is could become even clearer on Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is expected to release its March jobs report on Friday at 8:30 a.m.

☆ Private payrolls rose by 145,000 in March, well below expectations, ADP says
▼ + stars: | 2023-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private sector hiring decelerated in March, flashing another potential sign that U.S. economic growth is heading for a sharp slowdown or recession, payroll processing firm ADP reported Wednesday. Company payrolls rose by just 145,000 for the month, down from an upwardly revised 261,000 in February and below the Dow Jones estimate for 210,000. The ADP report serves as a precursor to Friday's nonfarm payrolls report from the Labor Department. ADP changed its methodology last year, and its count on average was about 100,000 less per month than the government's in 2022. Economists surveyed by Dow Jones expect Friday's report to show payroll growth of 238,000 in March and the unemployment rate holding at 3.6%.

☆ Premarket stocks: The Fed wants to limit wage growth. That's particularly bad for women
▼ + stars: | 2023-03-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: Never-married women earned just 92% of what never-married men did last year, according to the Wells Fargo report. Those wage gaps are “persistently disappointing,” ADP’s Chief Economist Nela Richardson told CNN on Thursday. Markets suffer: Companies with smaller gender pay gaps tend to be rewarded by their shareholders. “The gender pay gap is informing investment strategies,” wrote Refinitiv analysts in a recent report. “Our recent analysis shows that [shares of] companies with no gender pay gap outperform companies with pay gaps between male and female employees,” wrote Refinitiv.

☆ Today’s good economic news could spell trouble for Americans down the road
▼ + stars: | 2023-03-09 | by ( Christine Romans | ) edition.cnn.com time to read: +3 min

From the labor market to consumer spending to inflation, key readings on the economy have been running hot. Although that might sound like good news for Main Street, it’s a problem for the Federal Reserve. After a spate of stronger-than-expected economic data, buckle up for an intense few weeks of Fed guessing, especially surrounding the tight labor market. The strong labor market means workers are enjoying the best wage growth in years. The next two weeks will serve as a crucial test on how much more medicine the economy needs.

(Joe Raedle/Getty Images)Private companies added more jobs than forecast in February, according to payroll company ADP. An estimated 242,000 jobs were added last month, higher than the forecast of 200,000 and more than double the revised 119,000 added in January. The job growth was fairly broad-based, with industries such as leisure and hospitality, services, and financial activities seeing some of the larger gains. Pay growth for “job stayers” slowed to 7.2% in February, the slowest pace seen during the past 12 months. “We’re seeing robust hiring, which is good for the economy and workers, but pay growth is still quite elevated.

☆ Private payrolls rose by 242,000 in February, better than expected, ADP says
▼ + stars: | 2023-03-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Companies added jobs at a brisk pace in February as the U.S. labor market kept humming, payroll services firm ADP reported Wednesday. "There is a tradeoff in the labor market right now," said ADP's chief economist, Nela Richardson. By sector, leisure and hospitality led job growth with 83,000 additions. The ADP report serves as a precursor to the more closely followed nonfarm payrolls report the Labor Department is schedule to release Friday. For instance, the Labor Department estimated payrolls rose 517,000 in January, more than four times what ADP reported.

Like Willis, private economists and analysts at payroll firms and staffing companies also see a labor market that is stressed but adjusting. A recent Goldman Sachs study concluded wage growth should continue slowing even with the current low unemployment rate of 3.4%. But even that came with slowing wage growth, and the gain was amplified by seasonal adjustments used to factor out expected swings in hiring during holidays and summer. Nela Richardson, chief economist at payroll processor ADP, said even as economy-wide hiring remains strong, the tech layoffs may be helping mute overall wage growth. "If that is a trend...we would expect there would be less drive for wage growth," she said.

☆ Wage growth is starting to steady and sideline, says ADP chief economist
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWage growth is starting to steady and sideline, says ADP chief economistNela Richardson, ADP chief economist, and CNBC's Steve Liesman join 'Squawk Box' to discuss the latest ADP data, the wage growth breakdown, and more.

☆ Private payroll growth slowed to 106,000 in January as weather hit hiring, ADP says
▼ + stars: | 2023-02-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Job creation in the private sector plunged in January as weather-related issues sent workers to the sidelines, payroll processing firm ADP reported Wednesday. Companies added just 106,000 new workers for the month, down from an upwardly revised 253,000 the month before. Most of the growth came in the hospitality industry, as bars, restaurants, hotels and the like added 95,000 positions. Other growth industries included financial activities (30,000), manufacturing (23,000), and education and health services (12,000). Despite the low headline number, ADP's chief economist, Nela Richardson, said weather factors were at play and job growth may not have been as weak as the number indicates.

☆ Mass tech layoffs don't signal a recession, but this trend could
▼ + stars: | 2023-01-31 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

" Loud layoffs " in tech have a disproportionate chilling effect, says ZipRecruiter chief economist Julia Pollak, because they're happening at household name-companies that just experienced rapid growth. But while these job losses are sudden and no doubt disruptive to the people impacted, they're not the wave of job cuts that would signal a recession, economists say. "We're not in a recession yet" and may not realize we're in one until it's over, says ADP chief economist Nela Richardson. Tech companies may be "pruning" their headcount, Richardson adds, but they're still investing in building future technology, and by extension, workforces. "We've entered a new era of the labor market," Richardson says, "where just-in-time supply of goods or workers has been disrupted, and workers may not be there when you need them."

☆ Small businesses are saving the economy from a recession, for now
▼ + stars: | 2023-01-25 | by ( Jennifer Ortakales Dawkins | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Data shows a boom in small businesses likely to employ workers, suggesting job growth could keep going well into the future. Small businesses have seen their openings soar, compared to larger businesses, from where they stood before the pandemic. While openings for small businesses are not as high as they were in spring 2022, there still are more openings in these kinds of businesses than big ones. Yet Swonk remains optimistic that small businesses will prevail. "Although small businesses fail at a much higher rate than any other businesses out there, I have some hope in the traction that they've already gained," she said.

☆ Small businesses are saving the economy from a recession for now
▼ + stars: | 2023-01-15 | by ( Jennifer Ortakales Dawkins | Madison Hoff | ) www.businessinsider.com time to read: +5 min

☆ Here's where the jobs are for December 2022 — in one chart
▼ + stars: | 2023-01-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The December jobs report beat expectations once again, as key service sectors continued to show strong growth. Health care and social services led the way with a gain of more than 74,000 jobs last month, the Bureau of Labor Statistics said in its report, released Friday. Pollak added that both sectors look poised for long-term growth due to changing consumer trends and an aging population. Retail trade and the transportation and warehousing sector also posted slight gains after shedding jobs the previous two months. Professional and business services saw the largest decline of the above sectors, shedding 6,000 jobs.

☆ Four experts break down December's better-than-expected jobs report
▼ + stars: | 2023-01-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFour experts break down December's better-than-expected jobs reportTyler Goodspeed, Cato Institute adjunct scholar and former acting CEA chairman, Jason Furman, professor at the Harvard Kennedy School of Government and former CEA chair, Liz Young, head of investment strategy at SoFi, Nela Richardson, ADP chief economist, and CNBC's Steve Liesman and Rick Santelli join 'Squawk Box' to react to the December jobs report.

☆ ADP jobs report December 2022:
▼ + stars: | 2023-01-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The jobs market closed out 2022 on a high note, with companies adding far more positions than expected in December, payroll processing firm ADP reported Thursday. Professional and business services grew by 52,000, while education and health services added 42,000. The big jobs surprise comes despite the Federal Reserve's attempts to slow a sizzling jobs market that has helped push inflation to near its highest level in more than 40 years. The central bank raised interest rates seven times in 2022, totaling 4.25 percentage points, and officials have identified labor market imbalances as a pivotal area they want to target. The ADP report comes a day before the Labor Department's count, which is expected to show growth of 200,000 in nonfarm jobs and an unemployment rate holding steady at 3.7%.

☆ Didn't get a big raise this year? It could come in early 2023
▼ + stars: | 2022-12-15 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

For workers, that means wage growth will remain strong in the first half of the year but could slow by the middle of 2023. Here's a look at where wages grew throughout the year and where they could be headed in 2023. Wage growth in 2023 will still be higher than pre-pandemic norms of around 3%, says Nela Richardson, chief economist at the payroll processor ADP. Wage growth resulting from shortages and competition does the opposite." Wage growth could stall by the end of 2023

☆ Four experts break down November's hotter-than-expected jobs report
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFour experts break down November's hotter-than-expected jobs reportSaira Malik, chief investment officer for Nuveen, Betsey Stevenson, former Labor Department chief economist, Nela Richardson, ADP chief economist, Tyler Goodspeed, Cato Institute adjunct scholar and former acting CEA chairman, and CNBC's Steve Liesman and Rick Santelli join 'Squawk Box' to react to the November jobs report.

☆ Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports
▼ + stars: | 2022-11-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October and well below the Dow Jones estimate for 190,000. The ADP report comes two days before the Labor Department releases its more closely watched nonfarm payrolls count. In the ADP report, the biggest sector gainer by far was leisure and hospitality, which saw an increase of 224,000. Goods-producing industries overall saw a decline of 86,000 jobs, while services firms added 213,000 on net. From a size standpoint, all of the job creation came from companies that employ 50-499 workers, a sector that added 246,000 jobs.

☆ We are far from a Fed pivot, says ADP's Nela Richardson
▼ + stars: | 2022-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are far from a Fed pivot, says ADP's Nela RichardsonNela Richardson, ADP chief economist, CNBC's Steve Liesman, and Rick Santelli join 'Squawk Box' to react to October's producer price index, which rose less than expectations.

☆ Stock futures edge higher Friday following strong jobs report
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock futures edge higher Friday following strong jobs reportNela Richardson, ADP chief economist, Liz Young, head of investment strategy at SoFi, Jason Furman, professor at the Harvard Kennedy School of Government and former CEA chair, Michael Strain, American Enterprise Institute, and CNBC's Steve Liesman and Rick Santelli join 'Squawk Box' to react to October's stronger-than-expected jobs report.

☆ Services sector boosts U.S. private payrolls in October
▼ + stars: | 2022-11-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The pick-up in private hiring shown in the ADP National Employment report on Wednesday was concentrated in the services sector, specifically the leisure and hospitality industry. "A tight labor market and rising wages will complicate things for the Fed and the risk is the labor market could remain tight for quite some time," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. Economists polled by Reuters had forecast an increase of 195,000 private jobs. According to a Reuters survey of economists, private payrolls likely rose by 200,000 jobs last month after rising by 288,000 in September. With no job gains expected in the government sector, overall nonfarm payrolls are also forecast to have increased by 200,000.

☆ Private payrolls rose 239,000 in October, better than expected, while wages increased 7.7%, ADP says
▼ + stars: | 2022-11-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll processing firm ADP. Companies added 239,000 positions for the month, ahead of the Dow Jones estimate of 195,000 and better than the downwardly revised 192,000 in September. Wages increased 7.7% on an annual basis, down 0.1 percentage point from the previous month. Job gains were especially strong in the pivotal leisure and hospitality sector, which added 210,000 positions while wage growth accelerated 11.2%. The ADP report comes two days before the more closely watched nonfarm payrolls count from the Bureau of Labor Statistics.

☆ The economy may be in better shape than you think...for now
▼ + stars: | 2022-10-23 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

The consensus forecast from economists surveyed by Reuters is that GDP grew at an annualized pace of 2.1% in the third quarter. (This will be the first estimate for third-quarter GDP, and there will be several revisions in the coming weeks.) That also means the Fed will likely continue to sharply raise interest rates to finally choke off inflation once and for all. Those rate hikes helped cause a so-called double-dip recession, where the economy suffered two downturns between 1980 and 1982. In other words, the much-hoped-for “soft landing” for the economy could turn out to be a pipe dream.

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