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November 05, 2021US EMPLOYMENT, OCTOBER 2021 The US Bureau of Labor Statistics reported that US non-farm payroll employment increased 531,000 from September to October 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 October 2021, US employment has recovered 81.2% of jobs lost in March and April 2020.
In October 2021, US employment increased in leisure and hospitality, professional and business services, manufacturing, transportation and warehousing, construction, health care, retail trade, other services, financial activities, wholesale trade, and mining. Employment declined in public education. Employment was little changed in information.
The US unemployment rate declined 0.2 percentage points to 4.6% in October 2021. US unemployment was 7.4 million in October 2021. The US unemployment rate remains 1.1 percentage points higher and the number of unemployed persons increased by 1.7 million compared to February 2020.
The US participation rate remained stable at 61.6% of the working age population in October 2021, this is 1.7 percentage points below its February 2020 level.
The US employment to population ratio edged up 0.1 percentage points to 58.8% in October 2021. This is 2.3 percentage points lower than its February 2020 level.
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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