by Calculated Risk on 10/04/2024 08:30:00 AM

From the BLS: Employment Situation

Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction.
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The change in total nonfarm payroll employment for July was revised up by 55,000, from +89,000 to +144,000, and the change for August was revised up by 17,000, from +142,000 to +159,000. With these revisions, employment in July and August combined is 72,000 higher than previously reported.
emphasis added

Click on graph for larger image.

The first graph shows the jobs added per month since January 2021.

Total payrolls increased by 254 thousand in September.  Private payrolls increased by 223 thousand, and public payrolls increased 32 thousand.

Payrolls for July and August were revised up 72 thousand, combined.

The second graph shows the year-over-year change in total non-farm employment since 1968.

In September, the year-over-year change was 2.44 million jobs.  Employment was up solidly year-over-year (Although the annual benchmark revision will lower the year-over-year change).

The third graph shows the employment population ratio and the participation rate.

The Labor Force Participation Rate was unchanged at 62.7% in September, from 62.7% in August. This is the percentage of the working age population in the labor force.

The Employment-Population ratio increased to 60.2% from 60.0% in August (blue line).

I'll post the 25 to 54 age group employment-population ratio graph later.

The fourth graph shows the unemployment rate.

The unemployment rate decreased to 4.1% in September from 4.2% in August.

This was well above consensus expectations, and July and August payrolls were revised up by 72,000 jobs, combined.  

A strong report.  I'll have more later ...