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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Automatic Data Processing, Inc.    ADP

AUTOMATIC DATA PROCESSING, INC.

(ADP)
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Automatic Data Processing : US Private Sector Creates 749,000 Jobs in September -- ADP

09/30/2020 | 08:44am EST

By Xavier Fontdegloria

The nonfarm private sector in the U.S. added 749,000 jobs in September, suggesting the pace of job gains accelerated in the month, data from ADP National Employment Report showed Wednesday.

Total U.S. nonfarm private employment increased by 749,000 from July to August. Economists polled by The Wall Street Journal were expecting it to show a gain of 600,000 jobs.

September's reading signals an acceleration in job creation compared with August figures, which were upwardly revised to 481,000 jobs gained from an initial estimate of 428,000.

Despite the improvements registered every month since May, the labor market is still far from recovering from the record-breaking 19.4 million jobs destroyed in April as the coronavirus pandemic took hold and economy was brought into halt.

"The labor market continues to recover gradually," Ahu Yildirmaz, co-head of the ADP Research Institute, said in prepared remarks.

Large businesses, those of at least 500 workers, are the ones which added most jobs, with an increase of 297,000. Medium businesses, between 50 and 499 employees, added 259,000 jobs, while small businesses, with a maximum of 49 employees, registered a 192,000 increase in jobs.

"Small businesses continued to demonstrate slower growth," Mr. Yildirmaz said.

Job creation was seen across almost all sectors, the report showed, with the service-providing sector adding 552,000 jobs and the goods-producing sector creating 196,000 jobs.

Among services, trade, transportation and utilities gained the most, with 186,000 jobs created, followed by 101,000 new jobs in health care and social assistance. Education subsector saw a reduction of 11,000 jobs, data showed.

As for the goods-producing sector, manufacturing gained 130,000 jobs, construction 60,000 and mining 7,000.

The report, done by the ADP Research Institute along with Moody's Analytics, is based on data through the 12th of the month.

The U.S. Department of Labor is expected to release its September employment report, which covers the same period as the ADP National Employment Report, on Friday. Economists are expecting it to show nonfarm payrolls up 800,000 jobs for the month, and a reduction in the unemployment rate to 8.2% from 8.4% in August.

 

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

 

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Financials (USD)
Sales 2021 14 594 M - -
Net income 2021 2 397 M - -
Net cash 2021 434 M - -
P/E ratio 2021 31,4x
Yield 2021 2,13%
Capitalization 75 158 M 75 158 M -
EV / Sales 2021 5,12x
EV / Sales 2022 4,79x
Nbr of Employees 58 000
Free-Float 67,0%
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Automatic Data Processing, Inc. Technical Analysis Chart | ADP | US0530151036 | MarketScreener
Technical analysis trends AUTOMATIC DATA PROCESSING, INC.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 19
Average target price 164,22 $
Last Close Price 175,27 $
Spread / Highest target 12,4%
Spread / Average Target -6,30%
Spread / Lowest Target -22,4%
EPS Revisions
Managers
NameTitle
Carlos A. Rodriguez President, Chief Executive Officer & Director
John P. Jones Non-Executive Chairman
Kathleen Anne Winters Chief Financial Officer & Vice President
Richard T. Clark Independent Director
Peter E. Bisson Independent Director
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