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January 05, 2024US EMPLOYMENT, DECEMBER AND ANNUAL 2023 Monthly change (December 2023 vs November 2023, seasonally adjusted)
US non-farm payroll employment increased 216,000 in December 2023, rising to 157.2 million persons.
The increase of 216,000 in US nonfarm payroll employment was faster than the growth of 173,000 reported for November.
The US unemployment rate was stable at 3.7% in December 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 declined 0.3 percentage points to 62.5%. 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 decreased 0.3 percentage points to 60.1% in December 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.
Annual
The average US employment level increased by 3.5 million in 2023 to 157.2 million compared to an increase of 6.3 million in 2022. The unemployment rate was unchanged at averaged 3.6% in 2023.
The participation rate was up 0.4 percentage points to 62.6% in 2023 compared to the previous year, while the US employment rate increased by 0.3 percentage points to 60.3% in 2023.
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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