The US economy added 223K jobs in December of 2022, the least since December of 2020, after a downwardly revised 256K rise in November, and beating market expectations of 200K. Notable job gains occurred in leisure and hospitality (67K), health care (55K), construction (28K), and social assistance (20K) while employment changed little in manufacturing (8K), retail trade (9K) and government (3K). Payroll employment rose by 4.5 million in 2022, an average monthly gain of 375K, compared to 562K per month in 2021 and 168K in 2019. The report continued to show that hiring is slowing although it remains strong, as the labour market is normalizing after the pandemic shock. For 2023, the labour market is set to remain tight but job growth will slow further and the unemployment rate is set to rise to 4.6%, according to Fed forecasts. Many big tech firms have already announced massive layoffs amid rising interest rates, weak consumer demand, and a global economic slowdown. source: U.S. Bureau of Labor Statistics
Non Farm Payrolls in the United States averaged 122.97 Thousand from 1939 until 2022, reaching an all time high of 4846.00 Thousand in June of 2020 and a record low of -20679.00 Thousand in April of 2020. This page provides the latest reported value for - United States Non Farm Payrolls - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Non Farm Payrolls - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Non Farm Payrolls in the United States is expected to be 125.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Non Farm Payrolls is projected to trend around 180.00 Thousand in 2024 and 170.00 Thousand in 2025, according to our econometric models.