• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Canada
  • United Kingdom
  • Subscribe
  • facebook
  • instagram
  • RSS
  • RSMUS.com

The Real Economy Blog

Search

  • Economics
  • Technology
  • Consumer
  • Industrials
  • Finance
  • Real Estate
  • Health Care
  • Life Sciences
Home > Economics > ADP private sector payroll estimate: Strong gains in middle market hiring

ADP private sector payroll estimate: Strong gains in middle market hiring

May. 1, 2019 by Joseph Brusuelas

  • email
  • Twitter
  • Facebook
  • Linkedin

The ADP April estimate of private sector hiring released on Wednesday pointed to strong hiring by middle market businesses amid robust service sector and goods producing sector hiring.

The middle market accounted for 52.7 percent, or 145,000 out of 275,000, of the total change in private sector employment. Small firms added 77,000 jobs, or 28 percent of overall hiring, while large firms added 19.3 percent, or 53,000 jobs to the monthly gain. This is likely a function of firms catching up with hiring after a three-month slower pace of job gains relative to the final six months of 2018. Regardless, in our estimation, labor market dynamics point to another solid gain in April hiring in Friday’s monthly nonfarm payroll report and firms continue to face problems finding qualified workers.

adp graph

The ADP report has a long history of large misses, especially to the upside, relative to the Bureau of Labor Statistics monthly estimate. Thus we are not changing our monthly employment forecast for April of a 207,000 gain in total employment with the unemployment rate remaining unchanged at 3.8 percent.

Nevertheless job gains by sector inside the report were impressive. The goods-producing sector increased by 52,000 and the services-providing sector jumped by 223,000 jobs.

 

  • email
  • Twitter
  • Facebook
  • Linkedin

Related posts

  • Cyberthreats for middle market companies are increasing--RSM MMBI Survey

    Unauthorized users will attempt to access proprietary data at more than half of the middle market businesses polled by the proprietary RSM US Middle Market Business Index survey in the first quarter—up significantly from 47 percent in 2018—illustrating…

  • Cyberthreats for middle market companies are increasing--RSM MMBI Survey

    Unauthorized users will attempt to access proprietary data at more than half of the middle market businesses polled by the proprietary RSM US Middle Market Business Index survey in the first quarter—up significantly from 47 percent in 2018—illustrating…

  • Joe Brusuelas and Simon Hart
    Brexit and the middle market: What comes next?

    RSM Chief Economist Joe Brusuelas gives an update on the outlook for middle market companies following the UK's planned departure from the European Union.

Filed Under: Economics Tagged With: ADP, hiring, jobs, Joe Brusuelas, middle market

About Joseph Brusuelas

@JoeBrusuelas

Joe Brusuelas, “chief economist to the middle market,” is the preeminent voice championing issues and policies facing midsize companies in the United States and around the world. An award-winning economist, Brusuelas has more than 20 years’ experience analyzing U.S. monetary policy, labor markets, fiscal policy, international finance, economic indicators and the condition of the U.S. consumer.

A member of the Wall Street Journal’s forecasting panel, Brusuelas regularly briefs members of Congress and other senior officials regarding the impacts of federal policy on the middle market and the factors by which middle market executives make business decisions. He also frequently offers his insights on the U.S., Canadian and global economies in the financial media. In 2020, he was named one of the 100 most influential economists by Richtopia.

Before joining RSM in 2014, Brusuelas spent four years as a senior economist at Bloomberg L.P. and the Bloomberg Briefs newsletter group, where he co-founded the award-winning Bloomberg Economic Brief. Earlier in his career, he was a director at Moody's Analytics covering the U.S. and global economies for the Dismal Scientist website. He also served as chief economist at Merk Investments L.L.C. and chief U.S. economist at IDEAglobal.

Primary Sidebar

Other Regions

  • Canada
  • United Kingdom

Categories

  • Economics
  • Technology
  • Consumer Products
  • Industrials
  • Financial Services
  • Real Estate
  • Health Care
  • Life Sciences

Recent Economics articles

  • CHART OF THE DAY: Estimating unemployment during the pandemic Mar. 5, 2021
  • February employment report: The devil really is in the details Mar. 5, 2021
  • Powell statement: Market challenging Fed’s credibility on inflation targeting Mar. 4, 2021

RSMUS.com links

The Real Economy

Middle Market Business Index

MMBI Special Reports

Footer

  • Facebook
  • Instagram
  • RSS

About The Real Economy Blog

The Real Economy Blog from RSM US LLP was developed to provide timely economic insights about the middle market economy. It is offered as a complement to RSM’s macroeconomic thought leadership, including The Real Economy monthly publication and the proprietary RSM US Middle Market Business Index (MMBI).

© 2021 RSMUS.com | Privacy Policy | Cookie Policy

The Real Economy Blog
  • Economics
  • Technology
  • Consumer
  • Industrials
  • Finance
  • Real Estate
  • Health Care
  • Life Sciences