ADP U.S. Payroll Estimate to Reflect Data From More Firms
Automatic Data Processing Inc.’s monthly U.S. payroll estimate will be calculated using a larger sample of its customers, the Roseland, New Jersey-based provider of human resource applications said today.
The number of corporate customers included in its calculations will increase to 406,000 from 344,000, according to a press release. Those companies employ 23 million workers, or more than 20 percent of all non-government staff, the company said.
ADP (ADP) also announced it will partner with Moody’s Analytics Inc. in West Chester, Pennsylvania, to produce the report starting with the next release on Nov. 1. The company previously collaborated with Macroeconomic Advisers LLC of St. Louis.
The data will also include a more detailed breakdown by company size and industries. Figures for businesses employing one to 19 workers, 20 to 49, 50 to 499, 500 to 999 and 1,000 or more will now be included, ADP said.
The industries covered will be expanded to five, including construction, financial activities, manufacturing, professional and business services and trade, transportation and utilities.
In addition, ADP and Moody’s Analytics said they developed a new methodology that will better align the data to the Department of Labor’s payroll figures, the press release said without describing the changes. The government’s next employment report will be released on Nov. 2.
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