Jobs day
Measuring the job shortfall since February 2020: Actual and counterfactual employment, January 2019–August 2022
| Actual nonfarm payroll employment | Employment if it had continued growing at the pre-recession level | Employment if it had grown with population growth since February 2020 | |
|---|---|---|---|
| Sep-2019 | 151.2 | ||
| Oct-2019 | 151.3 | ||
| Nov-2019 | 151.6 | ||
| Dec-2019 | 151.8 | ||
| Jan-2020 | 152.1 | ||
| Feb-2020 | 152.5 | 152.5 | 152.5 |
| Mar-2020 | 151.0 | 152.7 | 152.6 |
| Apr-2020 | 130.5 | 152.9 | 152.7 |
| May-2020 | 133.2 | 153.1 | 152.8 |
| Jun-2020 | 137.7 | 153.3 | 152.9 |
| Jul-2020 | 139.0 | 153.5 | 152.9 |
| Aug-2020 | 140.7 | 153.7 | 153.0 |
| Sep-2020 | 141.6 | 153.9 | 153.1 |
| Oct-2020 | 142.3 | 154.1 | 153.2 |
| Nov-2020 | 142.6 | 154.3 | 153.3 |
| Dec-2020 | 142.5 | 154.5 | 153.4 |
| Jan-2021 | 143.0 | 154.7 | 153.5 |
| Feb-2021 | 143.7 | 154.9 | 153.6 |
| Mar-2021 | 144.4 | 155.1 | 153.7 |
| Apr-2021 | 144.7 | 155.3 | 153.7 |
| May-2021 | 145.1 | 155.5 | 153.8 |
| Jun-2021 | 145.7 | 155.7 | 153.9 |
| Jul-2021 | 146.4 | 155.9 | 154.0 |
| Aug-2021 | 146.9 | 156.1 | 154.1 |
| Sep-2021 | 147.3 | 156.3 | 154.2 |
| Oct-2021 | 148.0 | 156.5 | 154.3 |
| Nov-2021 | 148.7 | 156.7 | 154.4 |
| Dec-2021 | 149.2 | 156.9 | 154.4 |
| Jan-2022 | 149.7 | 157.1 | 154.5 |
| Feb-2022 | 150.5 | 157.3 | 154.6 |
| Mar-2022 | 150.9 | 157.5 | 154.7 |
| Apr-2022 | 151.2 | 157.7 | 154.8 |
| May-2022 | 151.6 | 157.9 | 154.9 |
| Jun-2022 | 151.9 | 158.1 | 155.0 |
| Jul-2022 | 152.4 | 158.3 | 155.1 |
| Aug-2022 | 152.7 | 158.5 | 155.2 |
Notes: Payroll employment growth averaged 202,000 in the 12 months leading up to the pandemic recession. Population-adjusted employment growth applies population growth in the latest month since February 2020 to payroll employment and interpolates in the intervening years.
Source: EPI analysis of Bureau of Labor Statistics Current Population Survey public data series.
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