AIRS, an ADP company’s Post

The June 2024 Jobs Report paints a detailed picture of the labor market, with 206,000 jobs added in June, a slight uptick in the unemployment rate to 4.1%, and a labor force participation rate of 62.6%. Despite these mixed results, job opportunities remain well above pre-pandemic levels, although individuals are staying unemployed longer than before. This underscores the importance of matching job seekers with suitable roles. Learn more about the latest BLS report and how to attract top-tier talent by adopting innovative recruitment strategies like employee referrals by clicking here: https://hubs.ly/Q02GmXh-0

Strong Job Growth in October Showcases U.S. Economic Resilience In the latest ADP National Employment Report, the U.S. economy displayed remarkable resilience, adding 233,000 private sector jobs in October 2024, marking the highest level of job creation since July 2023. This surge in employment comes as the economy continues to recover from recent hurricane impacts, with substantial gains across most sectors except manufacturing, which experienced a slight decline. Key insights from the report include: Services Sector Leads the Way: Trade, transportation, utilities, education, and health services sectors saw significant job increases, with leisure and hospitality also showing strong growth. Manufacturing Faces Challenges: The sector shed 19,000 jobs, highlighting ongoing struggles within certain industries. Growth Across Establishment Sizes: Large businesses added a notable 140,000 jobs, while mid-sized firms also showed strong gains, emphasizing the broad-based nature of the recovery. This data, derived from ADP's aggregated and anonymized payroll data of more than 25 million U.S. employees, serves as a vital indicator of economic health and labor market trends. For businesses, policymakers, and researchers, these insights are crucial for strategic planning and decision-making as we approach the end of the year. The resilience of the job market is a positive sign for the overall economy, suggesting sustained growth and recovery potential. For more detailed insights and a breakdown by industry and establishment size, access the full report via the ADP website. #EconomicRecovery #JobGrowth #ADPEmploymentReport #LaborMarket #USeconomy

The economy is going in the right direction!

Private sector job growth in May fell short of expectations with only 152K new jobs added, below the anticipated 175K. Additionally, April's growth was revised lower by 4K jobs. According to ADP, while acknowledging a solid labor market, job gains and pay growth are slowing as we enter the second half of the year.

It is amazing how different the private sector employment report is from the government produced report. In a strong economy, private sector jobs are healthier, government jobs burden the system.

Need a quick breakdown of June's jobs report?👇 •The 206,000 jobs added by U.S. employers in June was right in line with expectations. Hiring has cooled gradually over the past year. •Unemployment ticked up to 4.1% in June, marking the first time that unemployment has topped 4% since 2021. •Annual wage growth ticked down to 3.9% in June. Businesses not keeping up with compensation trends still face a challenge with retaining talent.

The ADP Employment Report for July is out. Private sector job growth was below forecasts in July, as employers added 122K new jobs versus the 150K that were expected. Data came in weaker than expected, which is rate friendly. Will this push the fed to begin lowering rates? We shall see. #ADP #Jobs #PrivateMarketJobs #ADPEmployment

Positive Trends in the US Job Market: As we step into July, the US job market continues to show promising signs of growth. Recent reports indicate that nonfarm payroll employment increased by 272,000 in May, surpassing expectations. Sectors such as healthcare, government, leisure and hospitality, and professional services have seen significant job additions, providing abundant opportunities for job seekers. This robust job growth reflects the resilience of the US economy and the continuous demand for skilled professionals. For employers, this is an excellent time to attract top talent and build strong teams. How are you leveraging these positive trends in your recruitment strategies? #JobMarket #RecruitmentNews #EconomicGrowth

Private-sector employment in the US rose by 233,000 jobs in October, reaching its highest level since July 2023, according to a recent ADP National Employment Report. At eCapital, our tailored payroll funding solutions are designed to help staffing agencies navigate changes in the labor market. https://bit.ly/4fwVjI3 #Staffing #JobGrowth #ADPReport

By region, the South led by adding 80,000 jobs. The Northeast followed with an increase of 31,000 jobs, with the Midwest adding 26,000 and the West bringing in just 4,000 jobs. ADP’s report also found the median year-over-year pay gain for those staying in their jobs in June was 4.9%, the lowest pace of growth since August 2021. https://lnkd.in/eitZdkPc