September saw the nation’s employment level rise, according to the monthly ADP National Employment Report released Tuesday, as the private sector added 208,000 jobs. The ADP report released Tuesday also showed annual pay was up 7.8% year-over-year.
“We are continuing to see steady job gains,” Nela Richardson, chief economist, ADP, stated. “While job stayers saw a pay increase, annual pay growth for job changers in September is down from August.”
While job growth is stable, as schools reopened and pandemic concerns receded, it remains below the recent three-month average.
In terms of company size, small establishments fared the worst, adding 58,000 jobs. Large establishments added 60,000 positions and medium-sized businesses gained 90,000.
Looking at where these positions were added, the service-providing sector led the way with 237,000 positions filled; trade/transportation/utilities saw a 147,000-slot increase, while professional/business services added 57,000 jobs.
Job changers, who have been notching double-digit, year-over-year gains since the summer of 2021, lost momentum in September. Their annual pay rose 15.7%, down from a revised 16.2% gain in August. It’s the biggest deceleration in the three-year history of ADP’s data. For job stayers, annual pay rose 7.8% in September from a year ago, up from a revised 7.7% in August.