Science & Technology
Science and Technology
Science and Technology
Thu, April 2, 2009
Wed, April 1, 2009
Automatic Data Processing, Inc.: ADP National Employment Report Shows U.S. Employment Decreased by 742,000 Private Sector Jobs
ROSELAND, NJ--(Marketwire - April 1, 2009) - According to today's [ ADP National Employment Report® ], private sector employment decreased by 742,000 in March. The ADP National Employment Report, created by ADP® Employer Services, a division of [ Automatic Data Processing, Inc. (ADP) ], 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 - March Report: -- Total employment: -742,000 -- Small businesses* -284,000 -- Medium businesses** -330,000 -- Large businesses*** -128,000 -- Goods-producing sector: -327,000 -- Service-providing sector: -415,000 Addendum: -- Manufacturing industry: -206,000 * 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
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC, "Nonfarm private employment decreased 742,000 from February to March 2009 on a seasonally adjusted basis, according to the ADP National Employment Report. Despite some recent indications that stock prices, consumer spending, and housing activity may be bottoming out, employment, which usually trails overall economic activity, is likely to remain very weak for at least several more months."
Prakken added, "March's ADP Report estimates nonfarm private employment in the service-providing sector fell by 415,000. Employment in the goods-producing sector declined 327,000, the twenty-seventh consecutive monthly decline. Employment in the manufacturing sector declined 206,000, its thirty-seventh consecutive decline."
"Large businesses, defined as those with 500 or more workers, saw employment decline by 128,000, while medium-size businesses with between 50 and 499 workers declined 330,000. Employment among small-size businesses, defined as those with fewer than 50 workers, declined 284,000. The sharp employment declines among medium- and small-size businesses indicate that the recession continues to spread aggressively beyond manufacturing and housing-related activities to almost every area of the economy," said Prakken.
Prakken went on to say, "In March, construction employment dropped 118,000. This was its twenty-sixth consecutive monthly decline, and brings the total decline in construction jobs since the peak in January 2007 to 1,135,000."
The matched sample used to develop the ADP National Employment Report was derived from ADP data which, during the last six months of 2008, averaged approximately 400,000 payrolls representing nearly 24 million U.S. employees. This approximately represents the size of the matched sample used this month.
Small Business Highlights - March 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 ]® each month. The ADP Small Business Report is a subset of the ADP National Employment Report.
-- Total small business employment: -284,000 -- Goods-producing sector: -111,000 small business jobs -- Service-providing sector: -173,000 small business jobs
Private employment among [ small businesses ] decreased by 284,000 in March, 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 ].
"Employment among small-size businesses, defined as those with fewer than 50 workers, declined 284,000. Again this month, the magnitude of job loss indicates that the recession has spread aggressively to small-size businesses. The resiliency displayed by these businesses earlier in the recession, as compared to medium- and large-size ones, is no longer apparent," 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 April 2009 ADP National Employment Report will be released on Wednesday, May 6, 2009 at 8:15 a.m. ET.
About the ADP National Employment Report®
The ADP National Employment Report, sponsored by ADP®, 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 last six months of 2008, this subset represented approximately 400,000 U.S. business clients and nearly 24 million U.S. employees working in all private industrial sectors. The ADP Small Business Report® 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. (
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 is a registered trademark of ADP of North America, Inc.
