ADP · News · 20261003N
Market Demand Trends
AUTOMATIC DATA PROCESSING INC · 2026-10-03 · Importance 41 · Surprise 32
ADP reported that its pays-per-control metric grew only 1% in fiscal 2026 and is projected to grow 0–1% in 2027, indicating a cooling labor market and slower employment growth. Because ADP charges customers based on employees paid, weaker payroll growth is directly pressuring demand for its payroll-processing services. Similar labor-market-related softness was reported at competitors Paychex and Paycom, while new-business bookings and increasing workforce-management complexity provide some offset.