Weak hiring in the government sector constrained growth in total nonfarm employment to only 94,000 last month. Private nonfarm employment, however, showed an increase of 148,000 jobs in November compared to an average increase of 92,000 workers over the previous six months. Other measures showed a slight weakening in the labor market: The unemployment rate rose 0.1% (to 4.0%) while the employment-to-population ratio fell 0.1% (to 64.3%). On the other hand, average hourly earnings posted a strong increase of 6 cents last month, almost 4% higher than this time last year.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-12, pp. 13-14, 12.01.2000.