ADP, who run the employment report just before non-farm payrolls, have a new index out measuring workforce dynamics.
Introducing the ADP Workforce Vitality Index
The new ADP Workforce Vitality Index is a comprehensive, quarterly measure of U.S. workforce dynamics that looks at key labor market indicators, such as employment growth, job turnover, wage growth and hours worked. This report yields deeper insights into workforce dynamics and trends than previously available.
The Q3 wages released today showed a rise of 0.8% from Q2 for workers who stayed in jobs, and a 5.32% rise for those who changed jobs.
I’m not sure how much traction the index will get but it’s likely to be added to data calendars and would be another look into the nuts and bolts of the jobs market.
US ADP workforce vitality index 08 10 2014
It’s something to keep an eye on and there’s loads of funky graphics on the full report here