"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Wednesday, March 30, 2011

ADP Employment Report

ADP, also known as Automatic Data Processing, is "one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefit administration solutions from a single source."[1] These services give them vast insight into national employment, and changes in national employment.
Much like Challenger, Gray, & Christmas, they collate this information into a monthly snapshot of the US employment situation. ADP focuses entirely on the private sector, however, because that's what they work with.
In February, they reported a seasonally adjusted employment increase of 217,000 jobs. Looking at the March report, we see two things right away: First of all, private-sector non-farm employment increased by 201,000 in March on a seasonally adjusted basis. Secondly, February's job growth was revised downwards to 208,000.
164,000 (75.57%) of those new jobs came from the service-providing sector and 37,000 (18.4%) came from the goods-producing sector. Large businesses were responsible for 17,000 (8.45%) of the new jobs, medium-size businesses for 82,000 (40.8%), and small businesses for 102,000 (50.7%).
[1] From ADP's web site.

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