by Calculated Risk September 6, 2024 8:30 AM
From the BLS: Employment status
Nonfarm payrolls increased by 142,000 in August, and the unemployment rate was little changed at 4.2 percent.The U.S. Bureau of Labor Statistics reported job gains today, with construction and health care sectors seeing gains.
…
The June nonfarm payroll change was revised downward by 61,000 from +179,000 to +118,000, and the July change was revised downward by 25,000 from +114,000 to +89,000. The number of employed people in June and July combined was down 86,000 from the last reported number.
Add emphasis
Click on the graph to enlarge the image.
The first chart shows the number of jobs added each month since January 2021.
The number of employed people in June and July was revised down to a combined decrease of 86,000.
The second chart shows the year-over-year change in total nonfarm employment since 1968.
The August year-on-year increase was 2.36 million. Employment increased steadily year-on-year ( Annual Benchmark Revision The year-over-year change will be lower.
The third graph shows the employment-population ratio and participation rate.
The labor force participation rate, which measures the working-age population as a percentage of the labor force, remained unchanged at 62.7% in August from 62.7% in July.
The employment-population ratio remained unchanged at 60.0% from July’s 60.0% (blue line).
A graph showing the employment ratio of people aged 25 to 54 will be posted later.
The fourth graph shows the unemployment rate.
The unemployment rate fell to 4.2% in August from 4.3% in July.
This was below consensus expectations and marked a downward revision of a combined 82,000 jobs for June and July.
I’ll show you more later…
