by calculated risk 10/04/2024 08:30:00 AM
From BLS: Employment status
Total non-farm employment increased by 254,000 in Septemberthe unemployment rate was little changed at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continues to increase in sectors such as food service, restaurants, health care, government, social assistance, and construction.
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The July change in nonfarm payrolls was revised upward by 55,000 people, from +89,000 to +144,000, and the change in August was revised upward by 17,000 people, from +142,000 to +159,000. With these revisions, Employment in July and August totaled 72,000 more than previously reported.
Emphasis added
Click on the graph to see a larger image.
The first chart shows the number of jobs added each month since January 2021.
Salaries for July and August were revised upward by a combined 72,000 people.
The second graph shows the year-over-year change in nonfarm payrolls since 1968.
The increase/decrease in September from the previous year was 2.44 million. Employment increased steadily year-on-year ( Annual benchmark revision year-on-year changes will be smaller).
The third graph shows the employment population ratio and employment rate.
The labor force participation rate was 62.7% in September, unchanged from 62.7% in August. This is the proportion of the working-age population in the labor force.
The employment-population ratio rose from 60.0% in August to 60.2% (blue line).
I will post a graph of the employment population ratio for the 25-54 age group later.
The fourth graph shows the unemployment rate.
The unemployment rate in September fell to 4.1% from 4.2% in August.
This was well above consensus expectations, with payrolls for July and August revised upward by a combined 72,000 jobs.
This is a powerful report. I’ll eat more later…
