The November jobs report was released today. According to the U.S. Bureau of Labor Statistics, the unemployment rate was unchanged at 5.8 percent and total nonfarm payroll employment increased by 321,000.
Almost one-third of the unemployed are considered long-term unemployed. Unfortunately, “The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.8 million in November.”
- Retail trade rose by 50,000
- Health care added 29,000 jobs
- Manufacturing added 28,000 jobs
- Financial activities added 20,000 jobs
- Transportation and warehousing employment increased by 17,000
- Food services and drinking places increased by 27,000
- Construction employment rose by 20,000
Over the year, average hourly earnings have risen by 2.1 percent.
The change in total nonfarm payroll employment for September was revised from +256,000 to +271,000, and the change for October was revised from +214,000 to +243,000. With these revisions, employment gains in September and October combined were 44,000 more than previously reported.