Payroll Employment up by 315,000 in August 2022

Total nonfarm payroll employment increased by 315,000 in August 2022 and by 5.8 million over the past 12 months, as the labor market continued to recover from the job losses of the pandemic-induced recession. In August 2022, total nonfarm employment was 240,000 higher than its pre-pandemic level in February 2020. Professional and business services added 68,000 jobs in August. Over the past 12 months, professional and business services added 1.1 million jobs. Employment in financial activities rose by 17,000 in August and by 200,000 over the year.

Retail trade added 44,000 jobs in August and 422,000 jobs over the past 12 months. Employment in wholesale trade increased by 15,000 in August, returning to its February 2020 level. This industry added 197,000 jobs over the year.

Employment in leisure and hospitality changed little in August (+31,000), following average monthly gains of 90,000 in the first seven months of the year. Employment in leisure and hospitality is below its February 2020 level by 1.2 million.

In August, employment showed little change in other major industries, including construction, transportation and warehousing, information, other services, and government.