by Risk calculated on 07/10/2022 08:44:00
Total non-farm payroll employment increased by 263,000 in September and the unemployment rate edged down to 3.5%., the U.S. Bureau of Labor Statistics reported today. Notable employment gains occurred in leisure and hospitality and in health care.
The change in total non-farm payroll employment for July was revised up by 11,000, from +526,000 to +537,000, and the change for August remained at +315,000. employment in July and August combined were 11,000 higher than previously reported figures
Click on the graphic to enlarge the image.
The first graph shows the job losses since the start of the employment recession, in percentage.
The current jobs recession was by far the worst recession since World War II in percentage terms.
The second chart shows the year-over-year change in total non-farm employment since 1968.
In September, the year-over-year change was 5.69 million jobs. Employment has increased significantly year over year.
Total payroll increased by 263,000 in September. Private payroll increased by 288,000 and public payroll decreased by 25,000.
Payrolls for July and August have been revised up by 11,000, combined.
The third graph shows the employment-to-population ratio and the participation rate.
The participation rate fell from 62.4% in August to 62.3% in September. This is the percentage of the working-age population in the labor force.
The employment-to-population ratio remained unchanged at 60.1% (blue line).
I will post the employment to population ratio graph for the 25 to 54 age group later.
The fourth graph shows the unemployment rate.
The unemployment rate fell in September to 3.5% from 3.7% in August.
This was slightly above consensus expectations; and payrolls for July and August were revised upwards by a combined 11,000.