Employment Change
Month-over-month net change in total US nonfarm payroll employment, since January 2024
This is the DELTA between months. For the underlying employment LEVEL (one reading per year back to 1939), see Employment. Part of the same chain as Fed Funds Rate and Business Formation -- see How These Move Together.
Monthly net change (thousands of jobs)
FRED series PAYEMS (the same series behind the Employment page), differenced month to month rather than shown as a level. Starts January 2024, not the full series back to 1939 -- a deliberate scope decision (2026-08-09), not a data limitation: April 2020's real print was roughly -20,500K, about 900x tonight's reading, and would flatten every other bar on this chart to an invisible line near zero if included at the same scale. Black bars are net job gains; red bars are net losses.
-273K -136K 0K 136K 273K 2024 2025 2026 -23K
Month Net change
July 2026 -23K
June 2026 +20K
May 2026 +63K
April 2026 +148K
March 2026 +214K
February 2026 -156K
January 2026 +160K
December 2025 -17K
November 2025 +41K
October 2025 -140K
September 2025 +76K
August 2025 -70K
July 2025 +64K
June 2025 -20K
May 2025 +13K
April 2025 +108K
March 2025 +67K
February 2025 +42K
January 2025 -48K
December 2024 +237K
November 2024 +134K
October 2024 +33K
September 2024 +155K
August 2024 +9K
July 2024 +53K
June 2024 +87K
May 2024 +78K
April 2024 +64K
March 2024 +228K
February 2024 +206K