by Calculated Risk on 10/05/2022 08:20:00 AM
September and annual pay was up 7.8% year-over-year, according to the September ADP(R) National
Employment ReportTM produced by the ADP Research Institute(R) in collaboration with the Stanford Digital
Economy Lab (“Stanford Lab”).
The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over
25 million U.S. employees to provide a representative picture of the labor market. The report details the
current month’s total private employment change, and weekly job data from the previous month. ADP’s
pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month
“We are continuing to see steady job gains,” said Nela Richardson, chief economist, ADP. “While job
stayers saw a pay increase, annual pay growth for job changers in September is down from August.”
This was close to the consensus forecast of 205,000. The BLS report will be released Friday, and the consensus is for 250 thousand non-farm payroll jobs added in September.