November Job Report: US Adds 199,000 Jobs

The United States experienced a moderate increase in job growth in November, adding 199,000 new jobs, which is below the average monthly gain of 240,000 over the past 12 months but aligns with recent trends.

The U.S. unemployment rate edged down to 3.7% in November, with the number of unemployed persons showing little change at 6.3 million.

Is the U.S. Job Market Growing?

The November jobs report indicates a steady, albeit slower, growth in employment across various sectors, with healthcare and government leading the way.

Despite the decline in retail trade, the overall job market shows resilience with a slight decrease in the unemployment rate.

U.S. Unemployment Rates by Group in November 2023:

• Adult women: 3.1%
• Adult men: 3.7%
• Teenagers: 11.4%
• Whites: 3.3%
• Blacks: 5.8%
• Asians: 3.5%
• Hispanics: 4.6%

Additional Employment Statistics for November 2023:

• The number of long-term unemployed (those jobless for 27 weeks or more) edged down to 1.2 million, accounting for 18.3% of all unemployed persons.
• The employment-population ratio increased to 60.5%.
• The labor force participation rate remained essentially flat at 62.8%.
• Part-time workers for economic reasons decreased by 295,000 to 4.0 million.
• The number of persons not in the labor force who currently want a job was 5.3 million.
• The number of persons marginally attached to the labor force was about 1.6 million, with 421,000 discouraged workers.

U.S. Industries with Notable Job Growth in November:

Healthcare

Healthcare added 77,000 jobs, with gains in ambulatory health care services (+36,000), hospitals (+24,000), and nursing and residential care facilities (+17,000).

Government

Government jobs increased by 49,000 jobs, with local government adding 32,000 jobs and state government 17,000.

Leisure and Hospitality

Leisure and hospitality continued to trend up with a gain of 40,000 jobs, primarily in food services and drinking places.

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