The latest job report for November provides a comprehensive overview of the current state of employment in the United States. 

November’s Key Findings

The U.S. Bureau of Labor Statistics reveals that total nonfarm payroll employment increased by 227,000 jobs, reflecting a positive trend in job growth. The unemployment rate held steady at 4.2%, indicating stability amid economic fluctuations. 

Key sectors include:

• Healthcare
• Leisure & Hospitality
• Government
• Transportation
• Social Assistance

Sector-Specific Employment Trends

November’s employment landscape highlighted noteworthy shifts across the following sectors.

Healthcare

The healthcare sector added 54,000 jobs, with ambulatory healthcare services, hospitals, and nursing facilities showing notable increases. 

Leisure & Hospitality

Leisure and hospitality saw a rise of 53,000 jobs, primarily in food services and drinking places. 

Government

Government employment continued its upward trend, adding 33,000 jobs, with state government being a major contributor. 

Transportation

Transportation equipment manufacturing experienced a boost of 32,000 jobs, reflecting the return of workers from a strike. 

Social Assistance

Employment in social assistance increased by 19,000 jobs in November.

Unemployment Rates 

The household survey reveals that in November, the unemployment rate was 4.2%, with 7.1 million people unemployed. Compared to the previous year, when the unemployment rate was 3.7% and 6.3 million were unemployed, these numbers represent a slight increase. The jobless rate for African American workers increased to 6.4%, while rates for adult men and women remained consistent at 3.9%. Unemployment rates for teenagers, Caucasians, Asians, and Hispanics showed little change from previous months. The number of people employed part-time for economic reasons was 4.5 million, up from 4.0 million a year earlier.

Updates To Prior Months' Employment Data

The employment data for September and October has been revised. September's employment figures have been adjusted upward by 32,000 jobs, bringing the total to 255,000 jobs added. Similarly, October's figures have been revised up by 24,000 jobs, totaling 36,000 jobs added. These adjustments mean that the combined employment gain for these two months is 56,000 jobs higher than initially reported. The revisions result from additional reports received from businesses and government agencies and recalculations of seasonal factors. This new data provides a more accurate picture of the job market trends, highlighting the importance of continuously updating employment statistics to reflect the most current information available.

Wage Growth & Average Workweek

In November, average hourly earnings for employees on private nonfarm payrolls rose by 13 cents, or 0.4%, reaching $35.61. This reflects a 4.0% increase over the past year. For private-sector production and nonsupervisory employees, wages increased by 9 cents to $30.57. The average workweek for all employees on private nonfarm payrolls edged up to 34.3 hours. In the manufacturing sector, the average workweek remained stable at 40.0 hours, with overtime increasing slightly to 2.9 hours. 

For further reading, check out our other blogs on topics related to the job market.

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