According to the ADP National Employment Report for November, 2024, private sector employment increased by 146k jobs and annual pay was up 4.8% year-over-year. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees.

“While overall growth for the month was healthy, industry performance was mixed… Manufacturing was the weakest we’ve seen since spring. Financial services and leisure and hospitality were also soft.”  Said ADP chief economist Nela Richardson.