All Employees, Total Nonfarm (PAYEMS)
All Employees, Total Nonfarm — Historical Chart
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All Employees, Total Nonfarm (FRED series PAYEMS) is a monthly employment indicator measured in thousands of persons. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1939. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: All Employees, Total Nonfarm is one of the indicators traders, economists, and policymakers watch within the employment complex. Labor market data like this shapes expectations for consumer spending, wage growth, and the Federal Reserve’s employment mandate.
How to read it: focus on the direction and persistence of changes rather than any single monthly print. Comparing the latest value against its level a year ago, and against its long-run range since 1939, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
All Employees: Total Nonfarm, commonly known as Total Nonfarm Payroll, is a measure of the number of U.S. workers in the economy that excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to Gross Domestic Product (GDP). This measure provides useful insights into the current economic situation because it can represent the number of jobs added or lost in an economy. Increases in employment might indicate that businesses are hiring which might also suggest that businesses are growing. Additionally, those who are newly employed have increased their personal incomes, which means (all else constant) their disposable incomes have also increased, thus fostering further economic expansion. Generally, the U.S. labor force and levels of employment and unemployment are subject to fluctuations due to seasonal changes in weather, major holidays, and the opening and closing of schools. The Bureau of Labor Statistics (BLS) adjusts the data to offset the seasonal effects to show non-seasonal changes: for example, women's participation in the labor force; or a general decline in the number of employees, a possible indication of a downturn in the economy. To closely examine seasonal and non-seasonal changes, the BLS releases two monthly statistical measures: the seasonally adjusted All Employees: Total Nonfarm (PAYEMS) and All Employees: Total Nonfarm (PAYNSA), which is not seasonally adjusted. The series comes from the 'Current Employment Statistics (Establishment Survey).' The source code is: CES0000000001
Recent Data
| Date | Value (Thous. of Persons) | Change |
|---|---|---|
| May 1, 2026 | 159,001 | +172 |
| April 1, 2026 | 158,829 | +208 |
| March 1, 2026 | 158,621 | -6 |
| January 1, 2026 | 158,627 | +130 |
| December 1, 2025 | 158,497 | +48 |
| November 1, 2025 | 158,449 | -1,039 |
| October 1, 2025 | 159,488 | -105 |
| September 1, 2025 | 159,593 | +108 |
| August 1, 2025 | 159,485 | -26 |
| July 1, 2025 | 159,511 | +72 |
| June 1, 2025 | 159,439 | -13 |
| May 1, 2025 | 159,452 | +19 |
Frequently Asked Questions
What is All Employees, Total Nonfarm today?
The latest value of All Employees, Total Nonfarm (PAYEMS) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is All Employees, Total Nonfarm updated?
All Employees, Total Nonfarm is reported monthly (Monthly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising All Employees, Total Nonfarm mean?
A sustained rise in All Employees, Total Nonfarm signals strengthening readings in this employment measure, in thousands of persons. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the PAYEMS data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID PAYEMS. History is available back to 1939.
Related Employment Indicators
- Unemployment Rate4.3
- Initial Claims225,000
Data sourced from FRED®, Federal Reserve Bank of St. Louis: All Employees, Total Nonfarm (PAYEMS). Retrieved from fred.stlouisfed.org. Last updated June 5, 2026.