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Employment <br />10,000 <br />3-MI <br />0 <br />2,000 <br />0 <br />-2, 000 <br />o�c -6, 000 <br />M <br />M <br />-10,000 <br />0 <br />2-14,000 <br />-22,000 <br />Nonfarm Payroll (000's) <br />Non -farm Payroll (000's) <br />3 month average (000's) <br />9�gIt °t, ,cPb 4�10` 1g �°� ,cP6 �d` � <br />jcQ '7& 7,,9 19 19 l9 �O �p �O <br />Source: US Department of Labor <br />28.0% <br />24.0% <br />20.0% <br />16.0% <br />a <br />M <br />°C 12.0% <br />8.0 % <br />4.0 % <br />0.0% <br />Unemployment Rate <br />Underemployment Rate (U4 <br />-le� �°t°b, day - ��'6. �"` 9�& lcQ ?l 1,g ,l9 'l9 j9 -'O ')p �O <br />Source: US Department of Labor <br />U.S. nonfarm payrolls were in line with expectations, increasing by 1,371,000 in August versus expectations of 1,350,000. This follows increases <br />of 4,781,000 and 1,734,000 in June and July, respectively. In August, a larger than expected increase in government payrolls (driven in part by <br />temporary 2020 Census workers) offset a lower than expected increase in private payrolls. The unemployment rate declined to 8.4% in August <br />(versus expectations of 9.8%) from 10.2% in July. The participation rate improved to 61.7% in August, from 61.4°% in July, but remains well <br />below the pre -pandemic rate of 63.4% in January and February. Furthermore, workers who classified themselves as employed but absent from <br />work in the August survey understated the unemployment rate by about 0.7°%. The U-6 underemployment rate, which includes those who are <br />marginally attached to the labor force and employed part time for economic reasons, remained very high but eased to 14.2% in August from <br />16.5% in July. <br />QVI <br />