by Calculated Risk on 11/04/2022 08:40:00 AM
From the BLS:
rose to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains
occurred in health care, professional and technical services, and manufacturing.
The change in total nonfarm payroll employment for August was revised down by 23,000, from
+315,000 to +292,000, and the change for September was revised up by 52,000, from +263,000 to
+315,000. With these revisions, employment gains in August and September combined were 29,000
higher than previously reported.
The first graph shows the job losses from the start of the employment recession, in percentage terms.
The current employment recession was by far the worst recession since WWII in percentage terms.
In October, the year-over-year change was 5.30 million jobs. Employment was up significantly year-over-year.
Total payrolls increased by 261 thousand in October. Private payrolls increased by 233 thousand, and public payrolls increased 28 thousand.
Payrolls for August and September were revised up 29 thousand, combined.
The third graph shows the employment population ratio and the participation rate.
The Employment-Population ratio decreased to 60.0% from 60.1% (blue line).
I’ll post the 25 to 54 age group employment-population ratio graph later.
The unemployment rate increased in October to 3.7% from 3.5% in September.
This was above consensus expectations; and August and September payrolls were revised up by 29,000 combined.