The November employment report states that the total nonfarm payroll increased by 266,000. In comparison to October, the nonfarm pay has seen a significant increase. There is a slight change in the unemployment rate, which currently stands at 3.5%, according to the U.S Bureau of Labor Statistics.
Major Ups and Downs in November
Significant job gains took place in the health care industry, professional, and technical services industry. The manufacturing sector saw a rise in employment after numerous workers returned from the GM strike. The industry saw an overall gain of 54,000 jobs in November.
The healthcare sector added 45,000 jobs, which is a considerable increase as compared to October. October just added 12,000 jobs. The hospitality and leisure vertical added 45,000 jobs, whereas the professional and business service added 31,000 jobs, respectively, in November.
Employment in the warehousing sector saw an upward growth adding 16,000 jobs, respectively. The financial industry also added 13,000 jobs with an increase of 7,000 in credit intermediation and other related activities.
The mining industry lost 19,000 jobs after it perked up in May. The losses in jobs occurred primarily due to not a strong support in mining activities across the country. Sectors like construction, and wholesale trade, saw no change in the employment rate.
Establishment Survey Data
The number of people who were employed part-time stands at 4.3 million and saw a very slight change in November. November also saw 1.2 people million people marginally attached to the workforce. The number of discouraged workers stood at 325,000, which is down by 128,000 from the previous year.
The average hourly earnings for all employees spiked up by 7% to $28.98. The past twelve months saw an increase in the average hourly earnings, which stands at 3.1%. November saw no change in the average workweek, which currently stands at 34.4 hours, respectively.
Household Survey Data
The Unemployment rate for the various worker groups in November stands at:
| Workers Group | Unemployment Rate |
| Adult Men | 3.2 percent |
| Adult Women | 3.2 percent |
| Teenagers | 12.0 Percent |
| Workers Group | Unemployment Rate |
| White population | 3.2 percent |
| Black population | 5.5 percent |
| Asian population | 2.6 percent |
| Hispanics | 4.2 percent |
The Unemployment rate is currently the same for adult men & women as the previous month. The teenage unemployment rate dropped to 12% in November.
The white population unemployment rate is the same as the previous month. The black population unemployment rate went a notch up and currently stands at 5.5%. The Asian unemployment rate dropped to 2.6 % as compared to the previous year. The Hispanic unemployment rate went up and stands at 4.2% currently.
Final Analysis
The job report for November is definitely on the bright side. The unemployment rate dropped to 3.5%, and the nonfarm payroll increased by 266,000.
Significant job gains were recorded in verticals like the health care industry, professional, and technical services industry. All in all, November has been a great month for job seekers and professionals.