[Canada] ADP monthly pay tracking indicator for labour market and payroll insights

ADP has announced plans to launch a Canadian wage tracker which will offer insights into payrolls and the health of the country’s labour market, MSN reports.

ADP’s research arm will start publishing a Canada pay insights report on September 3. A report, it says, that will provide an independent labour market indicator of wage trends based on anonymised payroll data representing around 1 million workers in the country.

The recurring data series will sit alongside the official monthly labour force survey and payroll indicators released by the national data agency. It will reportedly be similar to ADP’s US private sector jobs data, which offers an alternative look at the market from the Labor Department’s employment report.

Nela Richardson - chief economist at ADP - stated that the new report would complement current Canadian government data at a time when the country’s labour market is being complicated by demographic shifts, geopolitical pressures and the emergence of artificial intelligence in the workplace.

According to ADP, its wage trends indicator will be based on high-frequency data that can provide granular information and a reliable read of the workforce for businesses of all sizes, as well as policymakers, academia and economists.

It will reportedly feature a national median annual pay level and the on-year pay growth rate for workers in Canada, together with an analysis of pay figures by company size, industry, gender, age and province. The report will track a cohort of individual workers over one year, looking at workers who have remained with the same employer and those who switched employers in the last 12 months.

Ms Richardson added that ADP’s position in Canada mirrors that in the US. It is the payroll provider to one in five employees in the northern country, offering it the size and scope of data to provide a unique view of how pay is trending for workers in Canada, she said.

Statistics Canada publishes a monthly labour force survey that samples around 65,000 households. In addition, it releases a less timely survey of payroll employment, earnings and hours, and job vacancies and employment insurance statistics.

Ali Jaffery - chief economist at KPMG Canada - said Statistics Canada’s response rates to its survey haven’t fully recovered since the pandemic, adding that the agency has had to increase its reliance on online surveys without the aid of an interviewer.

ADP’s monthly report will be released on its website and will be provided free of charge.

Source: MSN

ADP has announced plans to launch a Canadian wage tracker which will offer insights into payrolls and the health of the country’s labour market, MSN reports.

ADP’s research arm will start publishing a Canada pay insights report on September 3. A report, it says, that will provide an independent labour market indicator of wage trends based on anonymised payroll data representing around 1 million workers in the country.

The recurring data series will sit alongside the official monthly labour force survey and payroll indicators released by the national data agency. It will reportedly be similar to ADP’s US private sector jobs data, which offers an alternative look at the market from the Labor Department’s employment report.

Nela Richardson - chief economist at ADP - stated that the new report would complement current Canadian government data at a time when the country’s labour market is being complicated by demographic shifts, geopolitical pressures and the emergence of artificial intelligence in the workplace.

According to ADP, its wage trends indicator will be based on high-frequency data that can provide granular information and a reliable read of the workforce for businesses of all sizes, as well as policymakers, academia and economists.

It will reportedly feature a national median annual pay level and the on-year pay growth rate for workers in Canada, together with an analysis of pay figures by company size, industry, gender, age and province. The report will track a cohort of individual workers over one year, looking at workers who have remained with the same employer and those who switched employers in the last 12 months.

Ms Richardson added that ADP’s position in Canada mirrors that in the US. It is the payroll provider to one in five employees in the northern country, offering it the size and scope of data to provide a unique view of how pay is trending for workers in Canada, she said.

Statistics Canada publishes a monthly labour force survey that samples around 65,000 households. In addition, it releases a less timely survey of payroll employment, earnings and hours, and job vacancies and employment insurance statistics.

Ali Jaffery - chief economist at KPMG Canada - said Statistics Canada’s response rates to its survey haven’t fully recovered since the pandemic, adding that the agency has had to increase its reliance on online surveys without the aid of an interviewer.

ADP’s monthly report will be released on its website and will be provided free of charge.

Source: MSN