ADP National Employment Report Shows U.S. Employment Increased by 10,000 Private Sector Jobs in April
ROSELAND, New Jersey (April 30, 2008) – According to today’s ADP National Employment Report (SM), private sector employment increased by 10,000 in April. The ADP National Employment Report, created by ADP® Employer Services, a division of Automatic Data Processing, Inc. (ADP), in partnership with Macroeconomic Advisers, LLC, is based on actual payroll data and measures the change in total nonfarm private employment each month.
Private Employment Highlights — April Report:
* Total employment: +10,000
* Small businesses* +42,000
* Medium businesses** -14,000
* Large businesses*** -18,000
* Goods-producing sector: -54,000
* Service-providing sector: +64,000
Addendum:
— Manufacturing industry: -26,000
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC, “Nonfarm private employment increased 10,000 from March to April 2008 on a seasonally adjusted basis, according to the ADP National Employment Report. The estimated change in employment from February to March was revised down from an increase of 8,000 to an increase of 3,000.”
“Though April’s estimate for a small increase in employment is above consensus forecasts of an outright decline, it nevertheless suggests that a sharp deceleration of employment continues.”
Prakken added, “Employment in the service-providing sector of the economy grew 64,000, while employment in the goods-producing sector declined 54,000, the seventeenth consecutive monthly decline. Manufacturing employment fell 26,000 in April and marked the twentieth consecutive monthly decline.”
“Large businesses, defined as those with 500 or more workers, saw employment decline 18,000, while medium-size companies with between 50 and 499 workers declined by 14,000. Conversely, employment among small-size businesses, defined as those with fewer than 50 workers, advanced 42,000 during the month,” said Prakken.
Prakken went on to say, “Two sectors of the economy hit hardest by recent problems in mortgage markets have been residential construction and financial activities related to home sales and mortgage lending. In April, construction employment fell another 28,000. This is the seventeenth consecutive monthly decline, bringing the total decline in construction jobs since the peak in August 2006 to 288,000. Employment in the financial activities sector advanced just 2,000 for the month.”
The matched sample used to develop the ADP National Employment Report was derived from ADP data which, during the last six months of 2007, averaged approximately 392,000 payrolls representing nearly 24 million U.S. employees. This approximately represents the size of the matched sample used this month.
Small Business Highlights — April Report:
Due to the important contribution small businesses make to economic growth, employment data that is specific to businesses with fewer than 50 employees will be reported in the ADP Small Business Report (SM) each month. The ADP Small Business Report is a subset of the ADP National Employment Report.
— Total small business employment: +42,000
— Goods-producing sector: -14,000 small business jobs
— Service-providing sector: +56,000 small business jobs
Private employment among small businesses increased by 42,000 in April, according to the ADP Small Business Report released today. Additional information about small business employment, including charts on monthly job growth and employment levels, along with historical data, is available at http://www.smallbusinessreport.adp.com.
“Employment among small-size businesses, defined as those with fewer than 50 workers, advanced 42,000 during April, down from a revised 53,000 increase in March. This moderate growth of employment among small-size businesses contrasts with employment declines among larger firms, and is consistent with the stronger growth and resiliency these businesses have demonstrated over the past several years,” said Joel Prakken.
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 e-mail alerts and RSS feeds, please visit www.ADPemploymentreport.com. The May 2008 ADP National Employment Report will be released on Wednesday, June 4, 2008 at 8:15 a.m. ET.
Source: ADP
