Payrolls

Monthly change in total U.S. nonfarm payroll employment.

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CURRENT29.00kk monthly change • September 2026

PRIOR MOVE-104.00kvs prior month

VS YEAR AGO-47.00kchange in displayed metric

10-YEAR POSITION13thpercentile rank

Payrolls history

k monthly change • normalized monthly

121 plotted periodsLatest: 29.0k

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Sep 2026: 29 k monthly change

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View chart data (121 periods)

WHY IT MATTERS

Payroll growth is one of the fastest, most widely followed readings on whether the labor market is gaining or losing momentum.

The current 5-year z-score is -0.76, with a 10-year displayed-metric range of -20469.00k to 4631.00k.

SOURCE & METHOD

Verified data, calculated server-side.

Source: FRED, series PAYEMS. Values are displayed in k monthly change.

Historical coverage begins January 1939. Daily and weekly observations are averaged within each calendar month for this page chart.

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Related indicators

Keep following the chain

LaborUnemploymentThe share of the labor force that is unemployed and actively seeking work.LaborLabor Force ParticipationThe share of the working-age population that is employed or actively looking for work.GrowthReal GDPInflation-adjusted output of the U.S. economy.

GO DEEPER

Test the relationship yourself.

Start with Payrolls as X and Unemployment as Y, using level values. Change either indicator, transformation, or date range in Research Lab, then run your analysis.

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