ROSELAND, NJ, Jun 03 (MARKET WIRE) —
According to today’s ADP National Employment Report(R), private sector
employment increased by 55,000 from April to May on a seasonally adjusted
basis. The ADP National Employment Report, created by Automatic Data
Processing, Inc. (ADP(R)), in partnership with Macroeconomic Advisers,
LLC, is derived from actual payroll data and measures the change in total
nonfarm private employment each month.
Nonfarm Private Employment Highlights – May Report:
— Total employment: +55,000
— Small businesses* +13,000
— Medium businesses** +39,000
— Large businesses*** +3,000
— Goods-producing sector: -23,000
— Service-providing sector: +78,000
Addendum:
— Manufacturing industry: +15,000
* 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
Note: all data included
in the ADP National Employment Report is based on size of payroll. In
some cases, small and medium-size payrolls belong to businesses employing
more workers than indicated by the size grouping.
According to Joel
Prakken, Chairman of Macroeconomic Advisers, LLC, “Nonfarm private
employment increased 55,000 from April to May 2010 on a seasonally
adjusted basis, according to the ADP National Employment Report. May’s
rise in private employment was the fourth consecutive monthly gain.
However, over these four months the increases have averaged a modest
39,000. The slow pace of improvement from February through May is
consistent with the pause in the decline of initial unemployment claims
that occurred during the winter months.”
Prakken added, “Unlike the
estimate of total establishment employment to be released on Friday by
the Bureau of Labor Statistics (BLS), today’s ADP Report does not include
any federal hiring in May for the 2010 Census. For this reason it is
reasonable to expect that Friday’s figure for nonfarm total employment
reported by the BLS will be considerably stronger than today’s estimate
for nonfarm private employment in the ADP Report.”
“May’s ADP Report
estimates nonfarm private employment in the service-providing sector rose
by 78,000, the fifth consecutive monthly increase. Employment in the
goods-producing sector declined 23,000 during May. However, while
construction employment dropped 41,000, manufacturing employment rose
15,000, the fourth consecutive monthly increase,” said Prakken.
Prakken
went on to say, “Large businesses, defined as those with 500 or more
workers, saw employment increase by 3,000 and employment among
medium-size businesses, defined as those with between 50 and 499 workers
increased by 39,000. Employment among small-size businesses, defined as
those with fewer than 50 workers, increased by 13,000 in May.”
The
matched sample used to develop the ADP National Employment Report was
derived from ADP data, which during the twelve month period through
December 2009, averaged over 360,000 U.S. business clients and
represented over 22 million U.S. employees. This approximately represents
the size of the matched sample used this month.
Small Business
Highlights – May 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(R) each month. The ADP Small Business Report is a subset
of the ADP National Employment Report.*
– Total small business employment: +13,000
– Goods-producing sector: -24,000 small business jobs
– Service-providing sector: +37,000 small business jobs
*All size data included in the ADP National Employment Report is
based on size of payroll. In some cases, small and medium-size payrolls
belong to businesses employing more workers than indicated by the size
grouping.
Private employment among small businesses increased by 13,000 in May,
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.
“Small businesses, defined as those with fewer than 50 workers, saw
employment increase by 13,000 during May. Small business employment in
the service-providing sector increased by 37,000, the fifth consecutive
monthly increase,” 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 June 2010 ADP
National Employment Report will be released June 30, 2010 at 8:15 AM ET.
About the ADP National Employment Report(R)
The ADP National Employment
Report, sponsored by ADP(R), was developed and is maintained by
Macroeconomic Advisers, LLC. It is a measure of employment derived from
an anonymous subset of roughly 500,000 U.S. business clients. During the
twelve month period through December 2009, this subset averaged over
360,000 U.S. business clients and over 22 million U.S. employees working
in all private industrial sectors. The ADP Small Business Report(R) is a
monthly estimate of private nonfarm employment among companies in the
United States with 1-49 employees and is a subset of the ADP National
Employment Report. The data for both reports is collected for pay periods
that can be interpolated to include the week of the 12th of each month,
and processed with statistical methodologies similar to those used by the
U.S. Bureau of Labor Statistics to compute employment from its monthly
survey of establishments. Due to this processing, this subset is modified
to make it indicative of national employment levels; therefore, the
resulting employment changes computed for the ADP National Employment
Report are not representative of changes in ADP’s total base of U.S.
business clients.
For a description of the underlying data and the statistical properties
of the series, please see “ADP National Employment Report: Development
Methodology” at http://ADPemploymentreport.com/methodology.aspx.
About ADP
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9
billion in revenues and over 560,000 clients, is one of the world’s
largest providers of business outsourcing solutions. Leveraging 60 years
of experience, ADP offers the widest range of HR, payroll, tax and
benefits administration solutions from a single source. ADP’s easy-to-use
solutions for employers provide superior value to companies of all types
and sizes. ADP is also a leading provider of integrated computing
solutions to auto, truck, motorcycle, marine and recreational vehicle
dealers throughout the world. For more information about ADP or to
contact a local ADP sales office, reach us at 1 (800) 225-5237 or visit
the company’s Web site at www.ADP.com.
About Macroeconomic Advisers, LLC
Macroeconomic Advisers, LLC (MA) has
been the most trusted source for U.S. macroeconomic forecasts and
commentary, monetary and fiscal policy analysis, and econometric modeling
for 25 years. MA’s clients include leading financial service firms,
nonfinancial corporations, key policymaking agencies of the U.S.
government, as well as State and Foreign Government agencies. Additional
information on Macroeconomic Advisers, LLC is available on the company’s
Web site, www.MacroAdvisers.com.
The ADP National Employment Report and ADP Small Business Report are
registered trademarks of ADP, Inc.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1273374
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1273371
Media Contacts:
ADP Public Relations
ADP
(973) 974-7612
Public_Relations@adp.com
Rhena Wallace
Cohn & Wolfe for ADP
(212) 798-9832
rhena.wallace@cohnwolfe.com
Copyright 2010, Market Wire, All rights reserved.