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September 03, 2021US EMPLOYMENT, AUGUST 2021 The US Bureau of Labor Statistics reported that US non-farm payroll employment increased 235,000 from July to August 2021. The job increase was the smallest since January 2021.
US employment fell by 22.4 million in March and April 2020. Although this was a much sharper decline in employment than observed during the previous US recession, the recovery in employment has also been much faster. As of August 2021, US employment has recovered 76.2% of jobs lost in March and April 2020.
In August 2021, US employment increased in professional and business services, transportation and warehousing, private education, manufacturing, other services, information, financial activities, and mining. Employment declined in retail trade. Employment was little changed in construction, wholesale trade, and health care and unchanged in leisure and hospitality.
The US unemployment rate declined 0.2 percentage points to 5.2% in August 2021. US unemployment was 8.4 million in August 2021. The US unemployment rate remains 1.7 percentage points higher and the number of unemployed persons increased by 2.7 million compared to February 2020.
The US participation rate was unchanged at 61.7% of the working age population in August 2021, this is 1.6 percentage points below its February 2020 level.
The US employment to population ratio edged up 0.1 percentage points to 58.5% in August 2021. This is 2.6 percentage points lower than its February 2020 level.
Note: Canadian and US labour force statistics refer to different working-age cohorts.
Statistics Canada's Labour Force Survey results for August will be released on September 10, 2021.
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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