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August 05, 2022US EMPLOYMENT, JULY 2022 The US Bureau of Labor Statistics reports today that US non-farm payroll employment increased 528,000. The US unemployment rate was decreased by 0.1 percentage points to 3.5%.
The US participation rate decreased by 0.1 percentage point to 62.1%. The decline in participation rate in the US could partially reflect people exiting labour market activity completely during the crisis with people that have lost jobs not looking for work.
The US employment to population ratio was increased 0.1 percentage points in to 60%. The US employment rate has maintained a very gradual upward trend since the middle of 2013 and declined sharply in March 2020 due to COVID-19.
Note: Canadian and US labour force statistics refer to different working-age cohorts.
Sources: US Bureau of Labor Statistics news release, Commissioner's Statement on the Employment Situation
Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle
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