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September 07, 2018US EMPLOYMENT, AUGUST 2018 The US Bureau of Labor Statistics reports today that US non-farm payroll employment increased by 201,000 in August. Results for July were revised to show a weaker gain of 147,000 while June employment results were revised down substantially to a gain of 208,000. After a slower month in July, US employment growth returned to about the average pace set over the previous 12 months.
US employment gains in August were reported for the following sectors: professional/business services (+53,000), health care (+33,000), construction (+23,000), wholesale trade (+22,000), transportation (+20,000) and mining (+6,000). There was little change in the other major sectors of the economy: manufacturing, retail trade, information, finance, leisure/hospitality and government.
The US unemployment rate was stable at 3.9 per cent in August. Unemployment rates across most advanced economies (including Canada and Nova Scotia) are declining to levels below long run averages, but the unemployment rate was up for both Nova Scotia and Canada in August.
The US participation rate was down to 62.7 per cent in August. Unlike unemployment rates, the US participation rate has failed to return to pre-recession levels and has only increased modestly since bottoming out in 2015, with fluctuations around a narrow range since the start of 2016.
Participation rates in Canada and Nova Scotia also declined in the years after the global financial crises, but Nova Scotia's participation rates have rebounded in the past few months.
The US employment to population ratio slipped to 60.3 per cent in August, but there remains a very gradual upward trend since the middle of 2013.
Employment rates in Canada trended up in 2016 and 2017, but remained below levels observed in 2008 with a decline in the August results. With an aging population and declining labour supply, Nova Scotia's employment rates have trended down since 2012. There has been some recovery in recent months, leaving the Nova Scotia employment rate at 56.8 per cent in August.
Note: Canadian and US labour force statistics refer to different working-age cohorts.
Source: US Bureau of Labor Statistics, Statistics Canada Table 14-10-0287-02
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