Gallup US Payroll to Population
Released On 10/3/2013 8:30:00 AM For Sep, 2013
Prior Actual
level 43.7 % 43.5
Highlights
The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, fell slightly to 43.5 percent in September, from 43.7 percent in August. P2P has declined more than a percentage point from the 45.1 percent found in September 2012.
While the P2P rate for September is down from the same month last year, it is similar to what Gallup found in September 2011 and 2010 -- meaning there has been essentially no growth in full-time employment for an employer since at least 2010, the first year Gallup polled on this measure.
The employment situation improved in the late summer and early fall of 2012, with the P2P rate in August through October increasing by more than one point over the same months in 2011. That momentum slowed in the winter, and the P2P rate has stayed the same or slightly declined for eight out of nine months this year, compared with the same months in 2012.
Although P2P is down, the percentage of Americans working full time for themselves has gone up slightly, but this does not account for all of the year-over-year decline in P2P. Full-time self-employment is at 5.3 percent in September, up from 5.1 percent in August and 5.0 percent in September 2012.
Gallup's unadjusted unemployment rate for the U.S. workforce declined to 7.7 percent in September, from 8.7 percent in August, returning to about what it was in July. Similar to P2P, unemployment fluctuates seasonally, and the year-over-year change is the most informative comparison. Last month's unadjusted unemployment rate is down slightly from 7.9 percent in September 2012.
Gallup's seasonally adjusted U.S. unemployment rate for September is 7.9 percent, down from 8.6 percent in August. Gallup calculates this rate by applying the adjustment factor the government used for the same month in the previous year. Last year, the government adjusted September's rate upward by 0.2 points.
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