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Nonfarm payrolls
Nonfarm payrolls is up 0.6% from a year ago and has held roughly steady over the last 3 months. That is in its normal range: higher than 27% of readings since 2006.
Latest (vs. a year ago)
0.6%
Latest level
159.3 million jobs
As of
Oct 2026
3-month change
+0.34 % pts
1-year change
+0.27 % pts
20-year percentile
27th
20-year median
1.5%
What it is. Total jobs in the economy. A higher reading means more labor market strength in the Labor reading. Shown as the change from a year earlier.
What it affects next
It is close to normal and not moving much, so there is no ripple to trace right now.
What is driving it
None of its tested drivers is moving much right now.
All tested links
Fewer openings usually means slower hiring ahead. Typical lag: 1-6 months. Strongest match 1 month later (correlation 0.56, 298 observations since 2001).
New businesses tend to hire once they get going. Typical lag: 6-12 months. Strongest match 10 months later (correlation 0.27, 228 observations since 2007).
Source: BLS via FRED (series PAYEMS).