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November 01, 2024US EMPLOYMENT, OCTOBER 2024 Monthly change (October 2024 vs September 2024, seasonally adjusted)
US non-farm payroll employment edged up 12,000 from September to October 2024, rising to 159.0 million persons.
The latest monthly increase of 12,000 in US nonfarm payroll employment was weakest than the revised growth of 223,000 reported for September 2024.
The US unemployment rate was unchanged at 4.1% in October 2024. The US unemployment rate has trended up since the beginning of 2023.
The US participation rate was down 0.1 percentage points to 62.6% in October 2024. The US participation rate has little variation in recent months.
The US employment to population ratio was down 0.2 percentage points to 60.0% in October 2024. As with the participation rate, the US employment rate has not yet returned to pre-pandemic with little variation in the last 2-3 years.
Note: Canadian and US labour force statistics refer to different working-age cohorts.
Statistics Canada's Labour Force Survey results for October 2024 will be released on November 8, 2024.
Sources: U.S. Bureau of Labor Statistics, Current Employment Statistics - CES (National) : U.S. Bureau of Labor Statistics (bls.gov); CPS Home : U.S. Bureau of Labor Statistics (bls.gov); retrieved from FRED at the Federal Reserve Bank at St. Louis. Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle
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