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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

December 06, 2024
US EMPLOYMENT, NOVEMBER 2024

Monthly change (November 2024 vs October 2024, seasonally adjusted)

US non-farm payroll employment increased 227,000 from October to November 2024, rising to 159.3 million persons.

The latest monthly increase of 227,000 in US nonfarm payroll employment was stronger than the revised growth of 36,000 reported for October 2024. 

The US unemployment rate edged up 0.1% percentage point to 4.2% in November 2024. The US unemployment rate has trended up since the beginning of 2023.

The US participation rate was down 0.1 percentage points to 62.5% in November 2024. The US participation rate has declining trend in recent months.

The US employment to population ratio was down 0.2 percentage points to 59.8% in November 2024. As with the participation rate, the US employment rate has not yet returned to pre-pandemic with little variation in the last 2-3 years.

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

Sources: U.S. Bureau of Labor Statistics, Current Employment Statistics - CES (National) : U.S. Bureau of Labor Statistics (bls.gov)CPS Home : U.S. Bureau of Labor Statistics (bls.gov); retrieved from FRED at the Federal Reserve Bank at St. Louis.  Statistics Canada.  Table  14-10-0287-01   Labour force characteristics, monthly, seasonally adjusted and trend-cycle



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