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ADP National Employment Report Increased by 106,000 jobs in January 2023
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Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).
“In January, we saw the impact of weather-related disruptions on employment during our reference week,” said Nela Richardson, chief economist, ADP. “Hiring was stronger during other weeks of the month, in line with the strength we saw late last year.”
Employment was soft during our Jan. 12 reference week as the U.S. was hit with extreme weather. California was coping with record floods and back-to-back storms delivered ice and snow to the central and eastern U.S.
Pay growth for job stayers held at 7.3 percent for the second month, with most industries little changed. One outlier was the information sector, where pay growth decelerated from 7 percent to 6.6 percent. For job changers, pay growth accelerated to 15.4 percent.
The December total of jobs added was revised from 235,000 to 253,000.
Posted: February 1, 2023 Wednesday 08:15 AM