ADP · News · 20260902N

Macroeconomic Factors Impact

AUTOMATIC DATA PROCESSING INC · 2026-09-02 · Importance 20 · Surprise 24

ADP’s August 2026 National Employment Report showed U.S. private-sector employment increasing by 38,000 jobs, the slowest pace since January and below the 47,000 economist expectation. The report indicates that hiring momentum weakened during the summer, potentially pressuring demand for ADP’s employer services and professional employer organization offerings. ADP’s Pay Insights data showed base pay rising 3.2% year over year and gross pay increasing 4.7%, with wage growth decelerating over the past four years. Canadian data covering 1.6 million anonymized workers showed job changers receiving a 2.6% base-pay increase and a 5.2% gross-pay increase relative to job stayers.

Key facts

• Barchart reported ADP saw a stock bump after exceeding Wall Street expectations for its fiscal Q4 earnings and revenue. source
• Barchart reported ADP outperformed the technology sector (XLK) over the last three months, gaining 21.3% while XLK declined 6.2%. source
• ADP's Pay Insights report: base pay for all private-sector workers increased by 3.2% year-over-year. source
• ADP's Pay Insights report: gross pay for all private-sector workers rose by 4.7% year-over-year. source
• ADP National Employment Report for August 2026: private-sector employment increased by 38,000 jobs. source
• ADP reported that the August private-sector job gain was the slowest pace of job creation since January. source
• ADP reported that pay growth has been decelerating for the past four years, particularly among lower-paid workers. source
• ADP said U.S. businesses created 36,000 new jobs in August (MarketWatch report of ADP data). source