ADP News Release (11/30/22)

Private sector employment increased by 127,000 jobs in November and annual pay was up 7.6% year-to-year, according to the November ADP National Employment Report. “Turning points can be hard to capture in the labor market, but our data suggest that [U.S.] Federal Reserve tightening is having an impact on job creation and pay gains,” said Nela Richardson, chief economist, ADP. “In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting and the post-pandemic recovery is stabilizing.”

This article originally appeared on mediacenter.adp.com. Use this link to see the full article and report: ADP National Employment Report: Private Sector Employment Increased by 127,000 Jobs in November; Annual Pay was Up 7.6%