by calculated risk 11/01/2024 08:30:00 AM
From BLS: Employment status
Non-farm payrolls remained virtually unchanged in October (up 12,000) and the unemployment rate remained unchanged at 4.1%.The U.S. Bureau of Labor Statistics announced today. Healthcare and government employment continues to trend upward. Temporary help services have lost jobs. In the manufacturing industry, employment decreased due to strike activity.
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The change in nonfarm payrolls for August was revised downward by 81,000 people, from +159,000 to +78,000, and the change in September was revised downward by 31,000 people, from +254,000 to +223,000. With these revisions, Employment in August and September was combined 112,000 fewer 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 August and September were revised downward by a combined 112,000 people.
The second graph shows the year-over-year change in nonfarm payrolls since 1968.
The change in employment in October compared to the same month last year was 2.17 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 fell from 62.7% in September to 62.6% in October. This is the proportion of the working-age population in the labor force.
The employment-population ratio decreased from 60.2% in September to 60.0% (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 October was 4.1%, flat from 4.1% in September.
This was lower than consensus forecasts, with payrolls for August and September revised downward by a combined 112,000 jobs.
I’ll eat more later…
