According to the Bureau of Labor Statistics’ November jobs report, originally scheduled to be published Dec. 5, released today, The US economy added 64,000 jobs in November as the unemployment rate crept up to 4.6%.
Today’s report shows the unemployment rate is now at its highest level since September 2021.
Along with the November report, the BLS released a shortened October report indicating payrolls fell by 105,000.
The October slump resulted from a sharp decline in government employment as layoffs postponed earlier this year took effect. Government payrolls decreased by 162,000 for the month and dropped another 6,000 in November.
The BLS report also showed that August’s numbers were revised downward by 22,000 to reflect a larger decline of 26,000, while September’s initial figure was lowered by 11,000.
Average hourly earnings increased only 0.1% for the month, below the forecast of 0.3%, and were up 3.5% compared to a year ago, the smallest annual increase since May 2021.
By CEO NA Editorial Staff
