Job creation in the U.S. is demonstrating signs of slowing as wages remain flat.That’s according to the monthly report on private sector employment released Wednesday (June 5) by ADP. It showed the private sector adding 152,000 jobs in May, down from 188,000 the month before.The trend was driven, the report said, by a “steep decline in manufacturing,” with that sector losing 20,000 jobs in May. The leisure and hospitality space also saw hiring cool, adding 12,000 jobs in the month.“Job gains and pay growth ...

Wednesday, June 5th, 2024Jobs Week continues this morning with private-sector payroll data. Automatic Data Processing (ADP) numbers for May came down for the second month in a row to 152K from a downwardly revised 188K for April. This is a drop of -23K private-sector jobs month over month, the steepest drop since January of this year. The Services sector reported a respectable +149K in new non-government jobs, but Goods-producing positions only came in at +3K — less than 20% of total private-sector employme ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Nearly 35,000 workers across the globe reveal their expectations around pay, skill development, and AI as the world of work enters a new era. ROSELAND, N.J., June 3, 2024 /PRNewswire/ -- The post-pandemic era of work is being shaped by technological advances, economic forces, and shifting demographics. Building on survey responses from nearly 35,000 workers in 18 countries, the ADP Research Institute's fourth annual "People at Work 2024: A Global Workforce View" captures how worker expectations are changing ...

Retirement planning involves not just building wealth but also protecting it, making the case for the best safe retirement stocks to buy. Selecting the right stocks for your retirement portfolio is crucial to achieving these goals. Among various investment options, certain stocks stand out due to their ability to weather market volatility and provide reliable and stable returns. The companies can be characterized by their robust business models, strong cash flows and reliable dividend payments. Dividend-pay ...

AI, cloud, and data stocks have been exploding over the past few quarters. The rally many of these companies have seen so far is more than just hype. Indeed, many such companies are seeing their data segments balloon. In fact, cloud and data are becoming the driving factors behind the growth many companies see today.That said, you should avoid certain AI, cloud, and data stocks that are trading at stretched valuations. These stocks could tumble significantly (and many already have), as AI startups seek to i ...

Investing in the best dividend stocks to buy is a prudent strategy for those seeking a reliable source of passive income and potential long term growth. No-brainer dividend stocks, characterized by their robust dividend payments, are appealing for stability and predictability. These stocks often belong to well-established companies with strong track records of financial performance. Investors often prioritize these stocks for their ability to provide steady income streams, which can be especially valuable d ...

Summary of Automatic Data Processing, Inc. (ADP) Conference Call Company Overview - **Company**: Automatic Data Processing, Inc. (NASDAQ: ADP) - **Event**: JPMorgan Global Technology, Media and Communications Conference Call - **Date**: May 22, 2024 - **Participants**: Maria Black (President and CEO), Tien-Tsin Huang (JPMorgan) Key Points Company Strategy and Priorities - ADP is celebrating its 75th anniversary, maintaining consistent strategic priorities focused on: - Winning market share in Human Capital Management (HCM) through best-in-class technology, unmatched service, and global scale [4][5] - Delivering results and commitments to shareholders [5] - Ensuring long-term improvements for future leadership [6] Market Environment - The macroeconomic environment remains strong, with positive indicators such as: - Growth in pays per control and GDP [10] - Low unemployment rates hovering around record levels [11] - Continued demand for HCM services due to increasing complexity in employment [12][13] Business Model and Client Retention - Focus on new business bookings and client retention, with significant investments in product development leading to high satisfaction and retention rates [7] - Generative AI is a tactical focus, aimed at enhancing operational efficiency and client engagement [7] Competitive Landscape - ADP is positioned well against competitors, leveraging its historical strength in distribution and modernized technology [18][22] - The company has seen record Net Promoter Scores (NPS) and retention rates, particularly in the mid-market segment [22] International Business - ADP operates in 140 countries, with a balanced approach between best-of-breed offerings and multinational corporation services [42] - The complexity of international payroll presents both challenges and growth opportunities, with ongoing strategic decisions to enhance capabilities [41][43] Professional Employer Organization (PEO) Insights - Current growth in the PEO sector is viewed as cyclical rather than structural, influenced by hiring trends and insurance market conditions [48][50] - The value proposition of PEO services remains strong, particularly for mid-market clients facing increasing operational challenges [51][52] Innovations and Future Products - Excitement around the Wisely platform, which focuses on financial wellness and payment solutions, indicating significant growth potential [57] - Ongoing modernization efforts in payroll and HCM offerings are expected to enhance ADP's competitive position and financial performance over time [58] Data Utilization - ADP emphasizes the importance of data in driving value for clients, with initiatives like ADP DataCloud for benchmarking and reporting [35][36] - The company is exploring partnerships to enhance data utility in employment verification and other areas [37][38] Additional Insights - The company acknowledges the need for continued education and awareness around PEO services to drive growth [53] - Generative AI is seen as a transformative tool for enhancing productivity and sales effectiveness [31][32] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting ADP's robust positioning in the HCM market and its commitment to innovation and client satisfaction.

ROSELAND, N.J., May 14, 2024 /PRNewswire/ -- ADP (Nasdaq: ADP), a leading global technology company providing human capital management (HCM) solutions, today announced that members of its management team will present at the following conferences: The Barclays Emerging Payments & Fintech Forum on Wednesday, May 15, 2024. The J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 22, 2024. The Baird Global Consumer, Technology & Services Conference on Tuesday, June 4, 2024. Inf ...