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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

May 03, 2024

Monthly change (April 2024 vs March 2024, seasonally adjusted)

US non-farm payroll employment increased 175,000 from March to April 2024, rising to 158.3 million persons.

The latest monthly increase of 175,000 in US nonfarm payroll employment was slower than the growth of 315,000 reported for March 2024.                                                    

The US unemployment rate was up 0.1 percentage points to 3.9% in April 2024. 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 remained same at 62.7% in April 2024. 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 0.1 percentage points to 60.2% in April 2024. 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.

Note: Canadian and US labour force statistics refer to different working-age cohorts. 

Statistics Canada's Labour Force Survey results for April 2024 will be released on May 10, 2024. 

Sources: U.S. Bureau of Labor Statistics. Unemployment Rate, retrieved from FRED, Federal Reserve Bank of St. Louis, Employment-Population Ratio, retrieved from FRED, Federal Reserve Bank of St. Louis, Labor Force Participation Rate, retrieved from FRED, Federal Reserve Bank of St. Louis Bureau of Labor Statistics news releaseCommissioner'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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