Revelio Public Labor Statistics (RPLS)

Non-farm employment measures the total employment in the US (public and private) leveraging individual level data collected from online professional profiles. The monthly change in this total employment is a proxy for number of jobs added in the economy during the month. In August, the US economy added approximately 50 thousand jobs. The growth in employment was driven by the Education and health services sector.

Revelio Labs' hiring and attrition data tracks the flows of workers into new jobs and out of existing ones, reported as an annualized rate. Hiring and attrition have both moved lower in recent months, continuing a broad cooldown from the post-pandemic surge. With fewer new roles opening and firms proceeding cautiously, worker churn has slowed even as layoffs remain relatively limited. Looking ahead, muted hiring alongside easing attrition points to softer job growth and a less dynamic labor market.

Revelio Labs' job postings data measures labor demand by tracking the number of positions employers are actively advertising. Active job postings have trended lower in recent months, with broad declines across most sectors. Heightened uncertainty is prompting firms and investors to delay new projects and slow hiring, softening labor demand. Looking ahead, fewer postings point to even weaker job growth, a trend that is increasingly concerning for policymakers at the Federal Reserve.

Salaries from new job postings measures how much employers are willing to pay for new hires. It can serve as a forward looking few on wage inflation. In August, salaries from new job postings were up by 0.6% month-over-month on average. The sector with the biggest increase was Information, with an increase of 1.1%. Meanwhile, Administrative and Support saw the largest decline, of 0.78% month-over-month.