Friday, October 8, 2021

September employment data in some useful 25 year charts

The September 2021 Payroll Survey reflected +194,000 new jobs, along with an unusually large August 2021 revision of +131,000 new jobs. When added together, that's a decent payroll employment report. 

The Household Survey, which does not need revisions, reflected at a very strong +526,000 new jobs in September 2021. Similar to the very strong +509,000 gain in August 2021. That survey, with no revisions, is about 50% more volatile than the Payroll Survey, after revisions. The last two months of jobs growth, when averaged, are excellent. The Household Survey includes the self employed and "gig" workers -- both not included in the Payroll Survey.  The unemployment rate is from the Household Survey,


Unemployment Rate:

Continuing Jobless Claims:
Labor Force Participation Rate:

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