2022-08-23 | NDAQ:ADP | Press release

The new data set will serve as an independent indicator of the US labor force and will feature high-frequency employment and wage data; first report available August 31

ROSELAND, NJ, August 23, 2022 /PRNewswire/ — ADP Research Institute (ADPRI) and the Stanford Digital Economics Lab (the Lab) have developed a new methodology for ADP National Employment Report (NER) which will provide a more robust, high-frequency view of the labor market with a focus on both jobs and wages. Using accurate data, this new metric will provide richer labor market analysis that will help answer key economic and business questions and offer relevant insights to a wider audience.

The employment report and salary information, based on the salary transactions of more than 25 million American workers, will provide a representative picture of the American labor market each month.

  • Report on the work — Based on anonymized, aggregated payroll data from more than 25 million U.S. employees, this independent measure will detail the evolution of private nonfarm employment for the current month and provide weekly employment data for the month previous. The data will be broken down by industry, size of business establishment and census region in the United States. Historical data for the past 12 years at monthly and weekly frequencies will be compared and available at launch.
  • Payment Information – ADP’s new salary metric uniquely captures the salaries of the same cohort of nearly 10 million individual employees over a 12-month period. The new monthly measure will report median annual wage growth by industry, business establishment size, US region, gender and age. Quarterly compensation-focused reports will expand on key areas of focus, such as bonuses, benefits and gender gaps.

“As the labor market evolves, the methods of measuring employment dynamics must also evolve,” said ADP Chief Economist Dr. Nela Richardson said. “Combining employment and compensation data in one report, coupled with high-frequency releases, will give us a clearer picture of the labor market. This real-time, independent assessment will provide business leaders, academics, economists and policymakers a reliable reading of The Workforce. Our collaboration with the Stanford Digital Economy Lab will provide a more robust labor market indicator rooted in a new approach to data. We look forward to the insights that this report will provide.

“We are in the midst of a fundamental transformation in our ability to measure and understand changes in the labor market,” said the Stanford professor. Erik Brynjolfsson, lab director and principal investigator at the Stanford Institute for Human-Centered AI. “In collaboration with the ADP Research Institute, the Stanford Digital Economy Lab is developing real-time insights into not only job creation and loss, but also wage developments at an unprecedented level of detail.”

ADPRI and the Lab announcement their collaboration in April. In line with ADPRI’s mission, the lab focuses on how artificial intelligence and other technologies affect the workforce, business, and society. The Laboratory is part of Stanford Institute for Human-Centered Artificial Intelligence (HAI) and co-sponsored by the Stanford Institute for Economic Policy Research (SIEPR).

To subscribe to monthly email alerts or get additional information on ADP’s National Jobs Report, including employment and compensation data, interactive charts, methodology and date calendar of publication, please visit https://adpemploymentreport.com/.

About the ADP National Employment Report

ADP’s National Employment Report is a high-frequency measure of changes in private non-farm employment and wages in the United States, derived from actual, anonymous payroll data from client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research Institute in conjunction with the Stanford Digital Economy Lab.

ADP’s National Jobs Report is widely distributed to the public each month, free of charge, as part of the company’s commitment to offer deeper insights into the U.S. labor market and to provide businesses and governments a source of credible and valuable information.

About the ADP Research Institute

The ADP Research Institute offers findings based on data on the world of work and derives reliable economic indicators. We offer these results as a unique contribution to improving the world of work and providing actionable insights to the economy as a whole.

About ADP (NASDAQ: ADP)

Designing better ways to work through cutting-edge products, premium services, and exceptional experiences that empower people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more about ADP.com.

ADP, the ADP logo, Always Designing for People and ADP Research Institute are trademarks of ADP, Inc.

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SOURCEADP, Inc.

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