The U.S. Bureau of Labor Statistics (BLS) report for November 2023 provides key insights into the employment situation in the United States. Here’s a summary of the information:
Key Indicators
- Total nonfarm payroll employment increased by 199,000 in November 2023.
- The unemployment rate edged down to 3.7 percent1.
The overall unemployment rate in November edged down to 3.7%. It has been below 4% for nearly two years — the longest stretch of unemployment this low in 54 years. 📉 #JobsReporthttps://t.co/XwCImfOxUK
— Housing information (@usaHousingInfo) December 12, 2023
Unemployment Rate
- The unemployment rate decreased to 3.7 percent in November 2023, with the number of unemployed persons showing little change at 6.3 million.
- Jobless rates for adult men, adult women, Whites, Blacks, Asians, and Hispanics showed little or no change over the month1.
Nonfarm Payroll Employment
- Job gains occurred in health care, government, and manufacturing, reflecting the return of workers from a strike. However, employment in retail trade declined1.
Industry Sector Analysis
- Employment in health care increased by 77,000 jobs, with gains in ambulatory health care services, hospitals, and nursing and residential care facilities.
- Government employment increased by 49,000, with gains in local and state government.
- Manufacturing added 28,000 jobs, primarily in motor vehicles and parts.
- Employment in retail trade declined by 38,000 jobs, with decreases in department stores and furniture, home furnishings, electronics, and appliance retailers1.
Aggregate Weekly Hours and Payrolls
- Average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.4 percent, to $34.10. Over the past 12 months, average hourly earnings have increased by 4.0 percent.
- The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours in November 20231.
This information provides a comprehensive overview of the employment situation in the U.S. for November 2023, highlighting key changes in the unemployment rate, nonfarm payroll employment, and industry-specific employment trends
Read more on this: https://www.bls.gov/news.release/pdf/empsit.pdf
