ADP and Moody's Analytics Enhance ADP National Employment
ADP and Moody's Analytics Enhance ADP National Employment Report
ADP Research Institute to Unveil More Robust Monthly Gauge of U.S. Nonfarm Private Sector Employment Beginning November 1
ROSELAND, NJ -- (Marketwire) -- 10/24/12 -- ADP(R), a leader in human capital management services, and Moody's Analytics, a leading independent provider of economic forecasting, today announced enhancements to the ADP National Employment Report(R), ADP's widely followed gauge of U.S. nonfarm private sector employment.
The newly expanded ADP National Employment Report will be issued each month by the ADP Research Institute(SM), a specialized group within ADP that provides insights around employment trends and workforce strategy. The first enhanced monthly report issued in collaboration with Moody's Analytics will be released on November 1, and will report private payroll changes for the month of October 2012.
"Our new strategic collaboration with Moody's Analytics marks the beginning of an exciting stage in the evolution of the ADP National Employment Report, as we work to offer an even deeper, richer and more illuminating look at U.S. monthly employment," said Jan Siegmund, Chief Strategy Officer, ADP. "Moody's Analytics is one of the most trusted names in economic forecasting with a vast and dedicated research team focused on national and regional U.S. employment trends. This team is led by their Chief Economist Mark Zandi, one of the world's most respected labor market experts. We look forward to working closely with the Moody's Analytics team to provide an insightful analysis of the changes in the U.S. labor market."
This new collaboration allows the ADP National Employment Report to increase the number of industry categories reported and expands the number of business sizes reported each month. Other key enhancements of the report include the development of a new methodology to further align with the final, revised U.S. Bureau of Labor Statistics (BLS) numbers. A look back at historical data from 2001 to present using the new methodology shows a very strong correlation (96%) with the revised BLS numbers. In addition, the overall sample size used to create the report has been increased from 344,000 U.S. companies to 406,000, and from 21 million employees to 23 million; which accounts for more than 20% of all U.S. private sector employees. Originally launched in 2006, the ADP National Employment Report is a derived from actual payroll data from an anonymous subset of ADP's clients in the U.S.
"The ADP National Employment Report is derived from transactional payroll data and not just survey data, making it a powerful labor market indicator," said Mark Zandi, Chief Economist at Moody's Analytics. "Drawing from this input and the national and regional knowledge provided by Moody's Analytics' dedicated team of economists, we are enhancing the monthly report, which we are confident will further align the ADP National Employment Report findings with the BLS's fully revised numbers."
The previous report provided three company-size classes. The enhanced ADP National Employment Report offers data according to five company-size classes:
-- 1-19 employees -- 20-49 employees -- 50-499 employees -- 500-999 employees -- 1000 or more employees
In addition, the enhanced report will provide an expanded snapshot of the monthly change in nonfarm private sector employment by moving from reporting on three industries to five industries. The five industries reported constitute more than 50% of all U.S. private sector employment. The industries are aligned with the North American Industrial Classification System (NAICS), the system endorsed by the U.S. Bureau of Labor Statistics. The five industries are:
-- Construction -- Financial Activities -- Manufacturing -- Professional and Business Services -- Trade, Transportation and Utilities
Educational Webinars To provide a detailed educational overview of the ADP National Employment Report's new methodology, ADP and Moody's Analytics will host a series of interactive, one-hour webinars on the following days. Interested parties are welcome to attend any one of the events, and are encouraged to join no later than five minutes prior to the start of each event.
Friday, October 26, 2012 - 1:30 p.m. ET
Webcast Link: http://www.media-server.com/m/p/pn8ycou5 Conference Dial-In Information: Toll-Free: (877) 736-3442 International: (706) 679-0359 Conference ID/Passcode: 53325973
Monday, October 29, 2012 - 4:00 p.m. ET
Webcast Link: http://www.media-server.com/m/p/2i749a89 Conference Dial-In Information: Toll-Free: (877) 736-3442 International: (706) 679-0359 Conference ID/Passcode: 53343996
Tuesday, October 30, 2012 - 2:00 p.m. ET
Webcast Link: http://www.media-server.com/m/p/7678476g Conference Dial-In Information: Toll-Free: (877) 736-3442 International: (706) 679-0359 Conference ID/Passcode: 53358311
Please note: A replay of each webcast will be available approximately two hours after the conclusion of each event and remain available for 12 months. These can be accessed using the same webcast URL's listed. A teleconference replay of all three webinars will also be available through November 9 by calling either (855) 859-2056 or (404) 537-3406, and then entering any one of the passcodes listed above.
For additional information about the ADP National Employment Report, including a sample report, charts, supporting data and a publishing schedule for future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit http://ADPemploymentreport.com.
The October 2012 ADP National Employment Report will be released at 8:15 a.m. ET on Thursday, November 1, 2012.
About Moody's Analytics Moody's Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including the proprietary analysis of Moody's Investors Service, Moody's Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $2.3 billion in 2011, employs approximately 6,500 people worldwide and has a presence in 28 countries. Further information is available at www.moodysanalytics.com.
About ADP Automatic Data Processing, Inc. (NASDAQ: ADP), with more than $10 billion in revenues and approximately 600,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.adp.com.
Michael Schneider ADP (973) 567-1775 email@example.com
Michael Adler Moody's Analytics (212) 553-4667 firstname.lastname@example.org