The American economy created 64,000 jobs in November, according to the “payroll” published by the Department of Labor. This figure was higher than the consensus of 45,000 vacancies estimated by analysts consulted by the Wall Street Journal. The unemployment rate rose to 4.6% in November from 4.4% in September.
In October, the economy shed 105,000 jobs, according to the data. The November survey also presents data from October, which was not released due to the U.S. government shutdown. The release of November data was delayed by more than a week, the Labor Department said. The October unemployment rate has not been released.
The number of jobs created in September was revised downward by 11 thousand, from 119 thousand to 108 thousand, and that of August was revised downward by 22 thousand, from 4 thousand closed vacancies to 26 thousand.
The private sector created 69,000 jobs in November and 52,000 in October. The service sector added 50,000 jobs in November and 61,000 in October, while the industrial sector added 19,000 jobs in November and closed 9,000 the previous month. The public sector cut 5,000 jobs in November, after closing 157,000 in October.
The average hourly wage was $36.86 in November, up 0.1% month-on-month, below the consensus of +0.3%. On an annual basis, the average hourly wage increased 3.5% in November, below the consensus of 3.6%.
In turn, the population activity rate increased to 62.5% in November, compared to 62.4% in September. The October rate has not been released. The measure remains below the historic pre-Covid-19 pandemic norm of 63.3%.
About The Author
