Dec. 6 (UPI) — The U.S. Bureau of Labor Statistics reported Friday that 227,000 jobs were created in November.
More jobs than expected were created, as the Dow Jones consensus estimate was for 214,000 jobs in November.
Dec. 6 (UPI) — The U.S. Bureau of Labor Statistics reported Friday that 227,000 jobs were created in November.
More jobs than expected were created, as the Dow Jones consensus estimate was for 214,000 jobs in November.
“Total nonfarm payroll employment rose by 227,000 in November, and the unemployment rate changed little at 4.2 %,” the U.S. Bureau of Labor Statistics said in a statement. “Employment trended up in health care, leisure and hospitality, government, and social assistance. Retail trade lost jobs.”
There were 28,000 fewer retail jobs, despite heading into the holiday shopping season.
Unemployment edged higher as expected at 4.2%. It was 4.1% in October.
“Both the unemployment rate, at 4.2%, and the number of unemployed people, at 7.1 million, changed little in November,” the BLS said in a statement. “These measures are higher than a year earlier, when the jobless rate was 3.7%, and the number of unemployed people was 6.3 million.”
Health care added 54,000, leisure and hospitality 53,000 and government added 33,000 jobs.
Transportation equipment manufacturing jobs increased by 32,000, reflecting workers in that industry coming back to work after a labor strike.
Social assistance added 19,000 jobs.
Average hourly earnings increased 13 cents to $35.61 per hour for nonfarm employees. Wages were up 4% over the past 12 months.
September’s job creation numbers from the BLS were revised up by 32,000 to 255,000.
For October revised job creation up by 24,000 to 36,000.
“With these revisions, employment in September and October combined is 56,000 higher than previously reported,” the BLS Friday statement said.
In a statement from the White House, President Joe Biden proclaimed, “America’s comeback continues.”
“Since I took office, the economy has created more than 16 million jobs, with jobs created every single month,” he said. “Unemployment has been the lowest on average of any administration in 50 years. Incomes are up almost $4,000 more than prices. While there is more to do to lower costs, we’ve taken action to lower prescription drug prices, health insurance premiums, utility bills, and gas prices that will pay dividends for years to come.”