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December 08, 2023US EMPLOYMENT, NOVEMBER 2023 Monthly change (November 2023 vs October 2023, seasonally adjusted)
US non-farm payroll employment increased 199,000 in November 2023, rising to 157.1 million persons.
The increase of 199,000 in US nonfarm payroll employment was faster than the growth of 150,000 reported for October.
The US unemployment rate fell by 0.2 percentage points to 3.7% in November 2023. Although the US unemployment rate has remained at or below 4% throughout 2022 and 2023, there has been a gradual rise since the beginning of 2023.
The US participation rate edged up 0.1 percentage points to 62.8%. The US participation rate has been rising slowly since 2021, but remains below levels observed prior to the pandemic.
The US employment to population ratio increased 0.3 percentage points to 60.5% in November 2023. As with the participation rate, the US employment rate has not yet returned to pre-pandemic levels despite gains in the last 2-3 years.
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 retrieved using FRED API from Federal Reserve Bank of St. Louis
Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle
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