Employment Trends
Source: Express Employment Professionals, Employment Trends, March 2024
UNEMPLOYMENT RATE: 4.3 %
Source: Express Employment Professionals, Employment Trends, August 2024
The unemployment rate increased to 4.3% in July and nonfarm payroll employment rose by 114,000, below the average monthly increase of 215,000 over the prior 12 months. The labor force participation rate changed little at 62.7%. Health care, construction, transportation and warehousing saw job gains, while information saw decreases. The average hourly earnings for all employees on private nonfarm payrolls increased by 8 cents (0.2%) to $35.07. The average workweek edged down by 0.1 hour to 34.2 hours.
According to the American Staffing Association, temporary help employment was 1.71% of total nonfarm employment in July.
Notable Gains and Losses:
Health Care and Social Assistance: +64,000
Construction: +25,000
Leisure and Hospitality: +23,000
Government: +17,000
Manufacturing: +1,000
Financial Activities: -4,000
Temporary Help Services: -8,700
Information: -20,000
