Real time jobs report data summary. Figures are based on the latest data provided by the Bureau of Labor Statistics (BLS.gov). All jobs numbers are for non-farm employment.
For local jobs report data, click here.
5 Things to Know About the National Jobs Report
There’s a new milestone. The Bureau of Labor Statistics (BLS) reported the US unemployment rate fell to 3.6% in April, the lowest rate in five decades (since 1969). There were also 263,000 jobs added in April, which exceeds the monthly average (213,000 jobs) over the previous year.
Regionally, the Bureau of Labor Statistics breaks down the state and metro unemployment rates one month behind the national breakdown. Those numbers will be released mid-month every month.
Here are 3 other things to know about April’s jobs report:
More on the Record Low Unemployment Rate: Since the 1960s, the U.S. unemployment rate has experienced a fairly consistent up-and-down cycle every 5 to 10 years. During the last half a century, the ups have been as high as 10% and the downs have been as low as 4%. The fact that we’re at a 50-year low of 3.6% is a clear sign of economic health. But there is more to economic health—and job market health, in particular—than unemployment rates and job growth. To learn about other factors, or caveats, read our article “Caveats of the Bureau of Labor Statistics’ Monthly Employment Situation/Jobs Report.”
Wage Growth Accelerating: Over the last decade, amid a recovering economy, it’s no secret that wages have lagged behind job growth. A common question has been the following: When will many companies’ newfound financial health, compared to their compromised financial health during the recession, trickle down to their employees in the form of pay? It looks like the answer is now. Read The New York Times’ article “Why Wages Are Finally Rising, 10 Years After the Recession” for a detailed breakdown of U.S. wage growth.
Defining “Nonfarm Payroll:” The BLS’ reports (and our breakdowns of their reports) are based on Nonfarm Payroll. You’ve probably seen that qualifier/term mentioned before, but do you know exactly what it means? Investopedia breaks down the definition of Nonfarm Payroll clearly and concisely: “Nonfarm payroll is a term used in the U.S. to refer to any job with the exception of farm work, unincorporated self-employment and employment by private households, nonprofit organizations and the military and intelligence agencies. Proprietors are also excluded.” For more on the when and why around Nonfarm, visit Investopedia.