The trend since 2019.
The current read: Nonfarm Payroll Change is at 57 as of June 2026. Source: FRED/BEA via Indicators IQ.
Why it matters.
Slower hiring means companies are becoming cautious, which can eventually lead to wage pressure easing and companies holding back on raises. A sustained slowdown in job creation is often a warning sign that recession risk is rising and your own job security may be worth watching.
Where it fits.
Nonfarm Payroll Change feeds the Jobs & Labor view — one of the six areas behind the site's Macro IQ score.