ADP Employment report is out and was slightly stronger than expected at 164,000 jobs compared to the 130,000 estimated.

October and November numbers were 100,000.

Another aspect of the ADP report is the Stayers vs the Job Changers. Both these numbers or % are on the decline. The job stayers had a pay increase of 5.4% slightly down from 5.6%, the job changers averaged an increase of 8.0% down from 8.3%.

To put this in context, last year the Stayers saw an increase of 7.6% and a 15.1% increase for the Job Changers.

What this means is we are settling in. The benefit of changing your job is less attractive and the employers know it but still want to retain their employees.