ADP making changes to monthly employment report
ROSELAND, N.J. (AP) — Automatic Data Processing Inc. is making some changes to its monthly U.S. employment report, including adding more industry categories.
The report will now increase to five industries from three industries. The five industries — construction, financial activities, manufacturing, professional and business services and trade, transportation and utilities — make up more than 50 percent of all U.S. private sector employment, according to ADP.
The company said Wednesday that the number of business sizes on the ADP National Employment Report will also be expanded to five company-size classes from three company-size classes. A new methodology that will better align with the final, revised U.S. Bureau of Labor Statistics numbers will be implemented as well, ADP said. In addition, the sample size used to create the report is being increased.
ADP, which is based in Roseland, N.J., said that it will no longer team with Macroeconomic Advisers LLC on the report. The companies, which had worked together for six years, said that their collaboration ended amicably. ADP will now work on the report with Moody's Analytics, an economic forecasts provider.
The ADP National Employment Report initially began in 2006 and is derived from actual payroll data from a subset of ADP's clients in the U.S. ADP doesn't identify which companies are in the subset.
The first monthly report issued in partnership with Moody's will be released on Nov. 1. It will report private payroll changes for October.