Keeping you up to date on the latest data releases.
In November, the unemployment rate fell to 7.0 percent and total nonfarm payroll employment rose by 203,000. This notable decline in the unemployment rate and the number of unemployed persons, down to 10.9 million, largely reflects the return of federal employees who were furloughed in October due to the partial government shutdown. Both the civilian labor force and the employment-to-population-ratio showed improvement, ticking up to 63.0 percent and 58.6 percent, respectively.
On the establishment side of the report, revisions to September and October’ reports combined for a total of 8,000 more jobs than previously reported. The average monthly payroll employment gain over the past 12 months has been 195,000 and over the past 6 months, sits at 180,000. The strongest employment sector gains in November were seen within transportation and warehousing (up 31,000), healthcare (up 28,000), and manufacturing (up 27,000), which was mostly within durable goods. Professional and business services also trended up with a gain of 35,000, as well as retail trade, up 22,000, where solid gains in general merchandise, hobby, and sporting goods stores composed the bulk of the growth (likely due to the seasonal demand for workers). For all employees, the average workweek edged up by 0.1 hour to 34.5 hours, average hourly earnings were up 0.4 cents to $24.15, and average weekly earnings were up $3.80 to $833.18.