Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate changed little at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in construction and health care. This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note. Household Survey Data – Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in August. These measures are higher than a year earlier, when the jobless rate was 3.8 percent, and the number of unemployed people was 6.3 million. Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult women (3.7 percent), teenagers (14.1 percent), Whites (3.8 percent), Blacks (6.1 percent), Asians (4.1 percent), and Hispanics (5.5 percent) showed little or no change in August. Among the unemployed, the number of people on temporary layoff declined by 190,000 to 872,000 in August, mostly offsetting an increase in the prior month. The number of permanent job losers was essentially unchanged at 1.7 million in August. The number of long-term unemployed (those jobless for 27 weeks or more) was virtually unchanged at 1.5 million in August. The long-term unemployed accounted for 21.3 percent of all unemployed people. The labor force participation rate remained at 62.7 percent in August and is little changed over the year. The employment-population ratio also was unchanged in August, at 60.0 percent, but is down by 0.4 percentage point over the year. The number of people employed part time for economic reasons was little changed at 4.8 million in August. This measure is up from 4.2 million a year earlier. These individuals would have preferred full-time employment but were working part time because their hours had been reduced or they were unable to find full-time jobs. The number of people not in the labor force who currently want a job, at 5.6 million, changed little in August. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force, at 1.4 million, was little changed in August. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, changed little at 367,000 in August.
The Employment Situation (09-06-24)
- Economic Monthly Summaries, The Employment Situation
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