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August 2024 Jobs Report: Initial Estimate Was 142,000 Jobs

The BLS initially reported 142,000 jobs added in August 2024, but its third estimate was 78,000. The unemployment rate was 4.2%.
From TheFinanceBase Team2 min to read
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The U.S. added 142,000 jobs in August 2024, according to the initial estimate in the Bureau of Labor Statistics (BLS) report published September 6, 2024. That figure was later revised: BLS’s third estimate put the increase at 78,000. The report also recorded a 4.2% unemployment rate, measured by a separate survey.

How many jobs did the U.S. add in August 2024?

The BLS’s September 6, 2024, Employment Situation release reported an initial increase of 142,000 in total nonfarm payroll employment. The agency said the gain was in line with average growth in recent months, but below the 202,000 average monthly increase over the preceding 12 months. These are figures as reported at the time, not a description of current labor-market conditions. BLS August 2024 release

What was the unemployment rate?

The unemployment rate was 4.2% in August 2024, little changed from July and higher than the 3.8% rate a year earlier. The household survey counted 7.1 million unemployed people. It also reported labor-force participation of 62.7% and an employment-population ratio of 60.0%. BLS August 2024 release

The 4.2% rate and 142,000 payroll gain come from different parts of the Employment Situation. The household survey measures labor-force status, including unemployment; the establishment survey measures nonfarm payroll employment, hours, and earnings by industry. They are related indicators, but they are not two readings from the same survey.

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Which industries gained or lost jobs?

August’s payroll gains were concentrated in construction and health care, while manufacturing lost jobs. BLS reported these seasonally adjusted changes in the establishment survey:

Industry August 2024 change Context in the release
Construction +34,000 Above its prior-12-month average monthly gain of 19,000
Health care +31,000 About half its prior-12-month average monthly gain of 60,000
Social assistance +13,000 Increased
Manufacturing −24,000 Durable-goods manufacturing fell by 25,000

BLS reported little change in many other major industries, including retail trade, transportation and warehousing, information, financial activities, professional and business services, leisure and hospitality, and government. BLS August 2024 release

What did the report say about pay and hours?

Average hourly earnings for all employees on private nonfarm payrolls rose 14 cents, or 0.4%, to $35.21 in August 2024. Earnings were up 3.8% over the 12 months through August. The average workweek increased by 0.1 hour to 34.3 hours. These figures describe the private nonfarm payroll measure in that release. BLS August 2024 release

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Why was the August jobs number revised?

Monthly payroll estimates are preliminary and can change as BLS incorporates additional information. Its revision-history table lists the August 2024 seasonally adjusted payroll change at three estimate vintages:

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Estimate vintage August 2024 payroll change
First estimate, September 6, 2024 142,000
Second estimate 159,000
Third estimate 78,000

The estimate first rose by 17,000 and then fell by 81,000; the third estimate was 64,000 below the initial figure. The same September 2024 release revised June growth from 179,000 to 118,000 and July growth from 114,000 to 89,000, a combined downward revision of 86,000 for those two months. BLS payroll revision history BLS August 2024 release

BLS warns that data in archived news releases may have been revised in later releases and points readers to the program databases for the latest data. The 142,000 figure therefore answers what the agency initially reported in September 2024; the revision table’s 78,000 figure is the later third estimate. BLS archived news releases

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