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Bloomberg
4 days ago
- Business
- Bloomberg
Weak US Services Activity, ADP Hiring Signal Some Tariff Strain
Activity at US service providers unexpectedly contracted last month for the first time in nearly a year and companies throttled back hiring, indicating the grip on the economy from higher tariffs is getting tighter. The Institute for Supply Management's index of services dropped 1.7 points in May to 49.9 — a touch below the 50 level that separates expansion and contraction. A separate report from ADP Research showed private-sector payrolls rose just 37,000 last month, the least in two years.
Forbes
20-05-2025
- Business
- Forbes
5 Excellent Habits That Can Set You Up For A Big Promotion
5 Excellent Habits That Can Set You Up For A Big Promotion We all know someone who seems to rise through the ranks like a rocket. People who are always getting noticed and on the shortlist for new opportunities. While some may attribute their success to luck or timing, there's often a set of power habits driving that momentum you can build to hit the big leagues. If you're eyeing that next step on the ladder, these five strategies can supercharge your journey to a well-deserved promotion. Let's call it like it is: promotions are harder to come by. In fact, a study from ADP Research showed that promotion trends in the U.S. labor force have continued to cool over the past few years. Managerial promotions fell from 9% in 2022 to 7.3% in 2024. With that in mind, if you really want to move up the ladder, you need to say it out loud. That doesn't mean a vague 'someday I'd like to move up.' We're talking about a direct, confident conversation with your manager. Spell it out, with something like: 'I'm ready for more responsibility, and I'd like to be considered for a promotion. What steps can I take to make that happen?' Why does this matter? Because in many workplaces, especially large organizations, assumptions can kill momentum. Your boss might think you're happy right where you are, or that you're not ready. Clarity crushes confusion. By owning your ambition, you position yourself as someone who knows your worth and is actively planning your growth. Managers value team members who show initiative. Show that you very much deserve that higher step in the corporate ladder. It gives them a clear signal that you're invested and opens the door to building a development plan that aligns with both your goals and the company's needs. Promotions aren't handed out to people who are just 'okay' at their jobs. They're earned by those who bring their A-game consistently. This doesn't mean burning out or over-delivering on every task, but it does mean that the quality of your work needs to stand out. Be the person your team knows they can count on. Become synonymous with dependability and excellence. Always show that you are leadership material. It is essential that not only do you meet deadlines, but you also have to differentiate yourself by catching work details that others might miss. You have to take ownership when things go wrong and know how to fix them fast. When your output reflects not just skill but pride and professionalism, you're sending a loud message: 'I'm ready for more.' Everybody knows that 'teamwork makes the dream work'. However, people who get promoted aren't just team players; they are team builders. They know how to rally colleagues, collaborate with managers, and uplift junior team members. That's leadership in action. If you want to move up, you need to show that you're capable of more than just executing tasks. You have to show that you can influence, mentor, and mobilize a team. Offer help to coworkers when they're swamped. Include junior staff in decision-making processes where possible. Always treat people with respect, regardless of their title. Show your managers that you are worthy of that promotion by building trust within the team. In every job, there's busy work, and then there's work that moves the needle. The people who get ahead aren't the ones who simply do more. They are the ones who do the right things. Start asking these questions: What are the company's top priorities right now? What projects or outcomes make the biggest impact? What matters most to my boss? Once you've identified those answers, align your efforts accordingly. When you consistently work on high-priority tasks and high-impact projects, your value becomes undeniable. Always remember that a promotion is not a reward for being busy. It's recognition for creating results that matter. Be strategic with your time, and you'll quickly become indispensable. Chances are, nobody else will notice your career highs and excellent work progress a month or two after it happened, so a golden rule of career growth is to continuously track your accomplishments. That's why the fifth excellent habit is all about metrics. Start keeping a simple document with your key wins, outcomes, and contributions. Include things such as revenue or cost savings tied to your work, projects completed ahead of schedule, positive feedback from clients or internal teams, or any metrics, KPIs, or performance targets you helped exceed. Then share these with your manager regularly, not to brag but to make it effortless to recall. You might add them to the team's weekly checks or quarterly reviews. This helps your boss build the business case for your promotion because you've already connected your efforts to results. When promotion time comes, there's no guesswork. You've made your impact visible and powerful. At the end of the day, getting promoted isn't just about time served or seniority. It's about becoming the kind of professional who's so valuable, so effective, and so growth-focused that leadership has to take notice. These five habits form a rock-solid foundation for career growth. They not only get you noticed, but they will earn you a high level of respect and will show that you can be relied upon. Step into the leadership mindset, and let your actions lead the way. With the right habits, it's not a question of if—it's when. Rooting for you!
Mint
01-05-2025
- Business
- Mint
US nearing first trade deals, tariff cuts expected in weeks: Trump administration
President Donald Trump's trade representative said that the US was nearing an announcement of a first tranche of trade deals that would see the White House reduce planned tariffs on trading partners, as fresh data fanned new doubts about the state of the economy. 'I would say that we have deals that are close,' US Trade Representative Jamieson Greer said Wednesday in an interview with Fox News. 'As a negotiator, I don't like to negotiate in public, but I will say we're talking about a matter of weeks and not months, to have some initial deals announced.' Greer spoke after a Bureau of Economic Analysis estimate showed that the US economy contracted at the start of the year for the first time since 2022, led by a surge of pre-tariffs imports and a reduction in government spending. That read, paired with an ADP Research report showing smaller-than-expected hiring in April, prompted a volatile day on Wall Street. Many investors are eager to see progress in trade talks, with Trump and aides pledging to quickly execute marathon negotiations with dozens of trading partners. While those talks are unlikely to yield comprehensive new trade agreements during Trump's 90-day pause of extra tariffs on more than 60 trading partners, the announcement of framework deals could pave the way for further extensions or reductions and soothe concerns about inflation and supply shortages. Greer said he was not 'finish line close' with negotiations with India, but said he had a standing call with the country's chief trade negotiator. He added that he would be meeting with South Korean negotiators 'pretty soon' and that those talks were 'going in the right direction.' The trade representative said he also planned to meet with Japan, Guyana and Saudi Arabia on Thursday, with an additional meeting with representatives from the Philippines on Friday. Other administration officials have indicated that a deal with Asian trading partners who immediately engaged with the administration were likely to be the first to be announced. Greer also said newly elected Canadian Prime Minister Mark Carney was a 'serious person' and that the representative's office was at the ready to engage in trade negotiations. Carney is expected to visit with Trump in the near future. The US president spent much of the day defending his economic agenda and attempting to cast blame for the GDP contraction at the feet of his predecessor, former President Joe Biden. 'This is the Biden economy,' Trump said Wednesday before adding, 'we've had a lot of things happen since November 5 that helped this economy.' He was speaking at an event with dozens of corporate executives at the White House intended to highlight investments in the US economy made during his first 100 days in office. The S&P 500 has fallen more than 8% since Trump took office, and consumer confidence in April hit a near five-year low. But Trump argued to leaders from General Electric Co., Hyundai Motor Co., Toyota Motor Co., Johnson & Johnson, Eli Lilly & Co., Nvidia Corp. and SoftBank Group Corp. that his tariffs were inspiring an unprecedented surge in domestic investment. 'Every new factory and every new job created is a sign of strength in American economy and a declaration of confidence in America's future,' Trump said. First Published: 1 May 2025, 08:37 PM IST
Yahoo
30-04-2025
- Business
- Yahoo
ADP National Employment Report: Private Sector Employment Increased by 62,000 Jobs in April; Annual Pay was Up 4.5%
ROSELAND, N.J., April 30, 2025 /PRNewswire/ -- Private sector employment increased by 62,000 jobs in April and annual pay was up 4.5 percent year-over-year, according to the April ADP® National Employment Report™ produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees. The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market. The report details the current month's total private employment change, and weekly job data from the previous month. Because the underlying ADP payroll databases are continuously updated, the report provides a high-frequency, near real-time measure of U.S. employment. This measure reflects the number of employees on ADP client payrolls (Payroll Employment) to provide a richer understanding of the labor market. As of January 2025, ADP's Pay Insights measure captures nearly 14.8 million individual pay change observations each month, up from nearly 10 million when it launched. "Unease is the word of the day. Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data," said Dr. Nela Richardson, chief economist, ADP. "It can be difficult to make hiring decisions in such an environment." April 2025 Report Highlights* View the ADP National Employment Report and interactive charts at JOBS REPORT Private employers added 62,000 jobs in AprilEducation and health services, information, and professional and business services lost jobs, while hiring in other sectors was moderate. Change in U.S. Private Employment: 62,000 Change by Industry Sector - Goods-producing: 26,000 Natural resources/mining 6,000 Construction 16,000 Manufacturing 4,000 - Service-providing: 34,000 Trade/transportation/utilities 21,000 Information -8,000 Financial activities 20,000 Professional/business services -2,000 Education/health services -23,000 Leisure/hospitality 27,000 Other services -1,000 Change by U.S. Regions - Northeast: 10,000 New England -33,000 Middle Atlantic 43,000 - Midwest: 42,000 East North Central 39,000 West North Central 3,000 - South: 3,000 South Atlantic -8,000 East South Central 54,000 West South Central -43,000 - West: 9,000 Mountain 8,000 Pacific 1,000 Change by Establishment Size - Small establishments: 11,000 1-19 employees 20,000 20-49 employees -9,000 - Medium establishments: 40,000 50-249 employees 21,000 250-499 employees 19,000 - Large establishments: 12,000 500+ employees 12,000 PAY INSIGHTS Pay gains were steady in AprilPay for job-stayers rose 4.5 percent in April from a year earlier, a slight deceleration from March. Year-over-year pay gains for job-changers accelerated, rising from 6.7 percent in March to 6.9 percent in April. Median Change in Annual Pay (ADP matched person sample) - Job-Stayers 4.5%- Job-Changers 6.9% Median Change in Annual Pay for Job-Stayers by Industry Sector - Goods-producing: Natural resources/mining 4.4% Construction 4.7% Manufacturing 4.6% - Service-providing: Trade/transportation/utilities 4.3% Information 4.1% Financial activities 5.1% Professional/business services 4.3% Education/health services 4.7% Leisure/hospitality 4.7% Other services 4.3% Median Change in Annual Pay for Job-Stayers by Firm Size - Small firms: 1-19 employees 2.8% 20-49 employees 4.2% - Medium firms: 50-249 employees 4.8% 250-499 employees 4.9% - Large firms: 500+ employees 4.8% To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here. * Sum of components may not equal total due to rounding. The March total number of jobs added was revised from 155,000 to 147,000. The historical data file and weekly data for the previous month are available at To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit The May 2025 ADP National Employment Report will be released at 8:15 a.m. ET on June 4, 2025. About the ADP® National Employment Report™The ADP National Employment Report is an independent measure of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research in collaboration with the Stanford Digital Economy Lab. The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information. About the ADP ResearchThe mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policymakers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world. About ADP (NASDAQ – ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, ADP Research Institute and ADP Research are trademarks of ADP, Inc. All other marks are the property of their respective owners. Copyright © 2025 ADP, Inc. All rights reserved. ADP-Media View original content to download multimedia: SOURCE ADP, Inc. Sign in to access your portfolio
Yahoo
08-03-2025
- Business
- Yahoo
Most Americans With Multiple Jobs Are Still Living Paycheck to Paycheck: Here's Why
A new report is revealing that having more than one job doesn't mean you're likely to be more financially stable — in fact, it may indicate the opposite. The latest People at Work 2025 report from ADP Research found that nearly one-fourth of Americans (23%) have more than one job. Find Out: Read Next: Yet, despite the fact that these workers have more than one income stream, they're more likely to be living to paycheck than those with a single job. Among U.S. workers who live paycheck to paycheck, 65% have multiple jobs. Here's a closer look at why Americans who work multiple jobs are more likely to be living paycheck to paycheck. Many Americans who take on additional jobs do so because they are struggling financially. 'The No. 1 reason people give for holding multiple jobs is to cover necessary expenses,' said Dr. Mary Hayes, research director of people and performance at ADP Research. 'Coming in at No. 2 is saving for extra expenses and, at No. 3, saving for retirement. One might expect that workers with more than one job would feel less burdened financially, but unfortunately, this isn't the case.' That's because the amount of income you bring in depends largely on the type of employment you have. 'Holding two or more jobs might not be a long-term solution to breaking the paycheck-to-paycheck cycle,' Hayes said. 'A secret is revealed when ADP Research starts comparing full-time workers to part-time or gig workers. 'People with just one full-time job were the least likely to say they were living paycheck to paycheck,' she continued. 'And those who supplement full-time jobs with gig work or employment at a second job were less likely to say they were financially burdened than people with two or more part-time jobs at different employers.' Ultimately, having one full-time job — or multiple jobs where at least one is full-time — leads to more financial security than having multiple part-time jobs. Learn More: Taking on multiple part-time roles might not be the best solution to breaking the paycheck-to-paycheck cycle, if the research is any indication. 'For workers, finding a full-time job might be one solution to the stress of feeling like you're living paycheck to paycheck,' Hayes said. Instead of looking to take on more side gigs, focus your efforts on increasing your earning potential at one full-time position, whether that be through acquiring new skills or certifications, asking for a raise or exploring new opportunities. More From GOBankingRatesI'm Retired and Regret Not Claiming Social Security at 65 -- Here's Why This article originally appeared on Most Americans With Multiple Jobs Are Still Living Paycheck to Paycheck: Here's Why Sign in to access your portfolio
