ADP: Private Sector Job Growth Slows in September While Wage Growth Moderates

Private sector employment increased by 89,000 jobs in September and annual pay was up 5.9 percent year-over-year, according to the ADP National Employment Report.

The September report showed the slowest pace of job growth since January 2021, driven by large establishments losing 83,000 jobs.

Job stayers saw a 5.9 percent year-over-year pay increase in September, marking the 12th straight month of slowing growth.

Pay gains also shrank for job changers, to 9 percent, down from 9.7 percent in August.

The ADP National Employment Report provides insights into private sector job growth and pay trends using anonymized payroll data from over 25 million U.S. employees.