ROSELAND, N.J.,: Private sector employment increased by 145,000 jobs in March and annual pay was up 6.9 percent year-over-year, according to the March ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab (“Stanford Lab“).
The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month’s total private employment change, and weekly job data from the previous month. ADP’s pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.
“Our March payroll data is one of several signals that the economy is slowing,” said Nela Richardson, chief economist, ADP. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”
March 2023 Report Highlights*
View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com.
Jobs Report
Private employers added 145,000 jobs in March
The job market is beginning to find its balance as consumer demand ebbs and the cost of borrowing goes up.
Change in U.S. Private Employment: 145,000
Change by Industry Sector
– Goods-producing: 70,000
- Natural resources/mining 47,000
- Construction 53,000
- Manufacturing -30,000
– Service-providing: 75,000
- Trade/transportation/utilities 56,000
- Information -7,000
- Financial activities -51,000
- Professional/business services -46,000
- Education/health services 17,000
- Leisure/hospitality 98,000
- Other services 8,000
Change by U.S. Regions
– Northeast: 141,000
- New England 41,000
- Middle Atlantic 100,000
– Midwest: 132,000
- East North Central 84,000
- West North Central 48,000
– South: -228,000
- South Atlantic -60,000
- East South Central -87,000
- West South Central -81,000
– West: 95,000
- Mountain -5,000
- Pacific 100,000
Change by Establishment Size
– Small establishments: 101,000
- 1-19 employees 38,000
- 20-49 employees 63,000
– Medium establishments: 33,000
- 50-249 employees 75,000
- 250-499 employees -42,000
– Large establishments: 10,000
- 500+ employees 10,000
Pay Insights
Pay gains fell faster in March
Pay growth decelerated for both job stayers and job changers. For job stayers, year-over-year gains fell to 6.9 percent from 7.2 percent in February. Pay growth for job changers was 14.2 percent, down from 14.4 percent.
Median Change in Annual Pay (ADP matched person sample)
– Job-Stayers 6.9%
– Job-Changers 14.2%
Median Change in Annual Pay for Job-Stayers by Industry Sector
– Goods-producing:
- Natural resources/mining 7.3%
- Construction 7.0%
- Manufacturing 6.5%
– Service-providing:
- Trade/transportation/utilities 7.0%
- Information 6.3%
- Financial activities 6.8%
- Professional/business services 6.4%
- Education/health services 7.2%
- Leisure/hospitality 9.6%
- Other services 6.6%
Median Change in Annual Pay for Job-Stayers by Firm Size
– Small firms:
- 1-19 employees 5.5%
- 20-49 employees 6.9%
– Medium firms:
- 50-249 employees 7.2%
- 250-499 employees 7.1%
– Large firms:
- 500+ employees 7.0%
