12 thousand Jobs, 4.1% Unemployment Fee

by Calculated Threat on 11/01/2024 08:30:00 AM

From the BLS: Employment State of affairs

Complete nonfarm payroll employment was basically unchanged in October (+12,000), and the
unemployment fee was unchanged at 4.1 %, the U.S. Bureau of Labor Statistics reported
as we speak. Employment continued to pattern up in well being care and authorities. Non permanent assist providers
misplaced jobs. Employment declined in manufacturing resulting from strike exercise.
…
The change in complete nonfarm payroll employment for August was revised down by 81,000, from
+159,000 to +78,000, and the change for September was revised down by 31,000, from +254,000 to
+223,000. With these revisions, employment in August and September mixed is 112,000 decrease
than beforehand reported.
emphasis added

Click on on graph for bigger picture.

The primary graph exhibits the roles added monthly since January 2021.

The second graph exhibits the year-over-year change in complete non-farm employment since 1968.

In October, the year-over-year change was 2.17 million jobs.  Employment was up solidly year-over-year (Though the annual benchmark revision will decrease the year-over-year change).

The third graph exhibits the employment inhabitants ratio and the participation fee.

The Labor Pressure Participation Fee decreased to 62.6% in October, from 62.7% in September. That is the proportion of the working age inhabitants within the labor power.

The Employment-Inhabitants ratio decreased to 60.0% from 60.2% in September (blue line).

I will put up the 25 to 54 age group employment-population ratio graph later.

The fourth graph exhibits the unemployment fee.

The unemployment fee was unchanged at 4.1% in October from 4.1% in September.

This was under consensus expectations, and August and September payrolls have been revised down by 112,000 mixed.  

This report was impacted by strikes and hurricanes.

I will have extra later …