ADP employment survey
The median change in annual pay:
- Job stayers 5.1% versus 5.2% last month
- Job changers 7.6% versus 7.2% last month
Strong sectors were construction, trade/transport/utilities, financial services and leisure/hospitality. Weak spots were natural resources and information.
“Job gains remain solid. Pay gains are trending lower but are still above inflation,” said Nela Richardson,
chief economist, ADP. “In short, the labor market is dynamic, but doesn’t tip the scales in terms of a Fed
rate decision this year.”