ECONOMY
When is the February Employment report going to be released?
The Bureau of Labor Statistics will release the February Employment report on Friday, 8 March. What to look for...
In February 2023, the national unemployment rate stood at 3.6 percent. Last month, it had ticked up to 3.7 percent, and tomorrow, we will see how the rate from last month compares to where it stood a year ago. The February 2024 Employment Report will be released by the Bureau of Labor Statistics (BLS) at 8:30 AM ET.
The situation of women in the workforce
The Bureau of Labor Statistics compiles a monthly report detailing key data on the United States’ jobs market. This report, known as the Employment Situation, is normally released on the third Friday after the reference week (the week which includes the 12th day of the month). Because the first of the month fell on a Friday, the release coincides with International Women’s Day. In honor of the celebration, we examined the case of women in the workforce as the year begins. In January 2024, the average unemployment rate for women twenty and older stood at 3.2 percent, lower than that for men in the same age group (3.7 percent). However, we should remember that the number of women in the workforce is 57.9 million, is smaller than the number of men (73.5 million). The largest number of women workers in US history was recorded in October 2023 when the Employment report estimated that 58.68 million women were part-time or full-time. This summer, the Department of Labor touted these statistics.
What are nonfarm payroll jobs?
If you have gone through the jobs report, you might have encountered the term ‘nonfarm payroll.’ However, you may not be fully aware of what it means. The jobs report covers most employment types, but there are some exceptions.
Nonfarm payroll measures the total number of workers excluding those employed in farming, military, private households, non-profit employees, and proprietors. Due to the unique characteristics of these jobs, they are not considered an accurate representation of the job market as a whole.
The figures in the jobs report primarily relate to those employed in private and government entities. Almost 80 percent of the US workforce is part of the nonfarm payroll, which means that the vast majority of workers are included in the report’s figures.