Private Sector Adds 146,000 Jobs in November, Wages Rise 4.8%

The U.S. private sector added 146,000 jobs in November 2024, according to the latest ADP® National Employment Report™. Produced by ADP Research in collaboration with the Stanford Digital Economy Lab, the report also highlighted a 4.8% year-over-year increase in annual wages.

The U.S. private sector added 146,000 jobs in November 2024, according to the latest ADP® National Employment Report™. Produced by ADP Research in collaboration with the Stanford Digital Economy Lab, the report also highlighted a 4.8% year-over-year increase in annual wages.

The ADP National Employment Report provides an independent, high-frequency analysis of private sector employment trends. Drawing from anonymized payroll data of over 25 million workers, it offers a near real-time snapshot of labor market conditions, including monthly employment changes and weekly job data. Additionally, ADP’s unique pay measure tracks earnings for approximately 10 million employees over a 12-month period, delivering detailed insights into wage trends.

"Overall, the job growth for the month was positive, but sector performance was mixed," noted Nela Richardson, chief economist at ADP. She added that manufacturing had its weakest performance since the spring, while financial services and leisure and hospitality sectors also exhibited signs of softness.

The November report underscores a labor market experiencing modest growth, though with notable disparities across industries.

Source: ADP