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September 02, 2022US EMPLOYMENT, AUGUST 2022 The US Bureau of Labor Statistics reports today that US non-farm payroll employment increased 315,000.
The US unemployment rate was increased by 0.2 percentage points to 3.7%. US employment is now above pre-COVID level, though the participation rate in the labour force remains lower.
The US participation rate increased by 0.3 percentage points to 62.4%. At its lowest point in April 2020, the participation rate fell to 60.2%. Although the participation has recovered since then, it remains one percentage points lower than it was prior to the pandemic.
The US employment to population ratio edged up 0.1 percentage points to 60.1%. The US employment rate has maintained a very gradual upward trend since the middle of 2013 and declined sharply in March 2020 due to COVID-19. Since reaching a low of 51.3% in April 2020, the US employment rate steadily increased before plateauing in early 2022.
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 09, 2022.
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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