US Job Growth Rebounds in November, Retail Sectors Suffer Losses
The US Labor Department released its employment report on Friday, showing that employers added 227,000 jobs in November, beating expectations. The unemployment rate ticked up to 4.2%, in line with expectations. September and October’s job creation numbers were also revised higher, with September’s gain now at 255,000 and October’s at 36,000.
The private sector added 194,000 jobs, with the manufacturing sector seeing a 22,000 job increase, including a resurgence of 32,000 in transportation equipment manufacturing following the end of a strike. Healthcare added 54,000 jobs, with ambulatory healthcare services, hospitals, and nursing and residential care facilities all experiencing growth. Leisure and hospitality employment rose by 53,000, primarily due to gains in food services and drinking places.
Government employment increased by 33,000, with state government accounting for the majority of the growth. Social assistance added 19,000 jobs, with individual and family services contributing to the majority of the increase. Employment was largely stable in construction, financial activities, and transportation and warehousing, but the retail sector saw a decline of 28,000 jobs.
Average hourly earnings for all employees on private nonfarm payrolls rose by 0.4% to $35.61, with a 4% increase over the past 12 months. The number of long-term unemployed individuals, defined as those out of work for 27 weeks or more, remains at 1.7 million, accounting for 23.2% of all unemployed people.