Key Points:
- Total nonfarm payroll employment rose by 227,000 in November and the unemployment rate rose to 4.2%.
- Consensus was a gain of 200,000 jobs.
- The change in total nonfarm payroll employment for September was revised up by 32,000, from +223,000 to +255,000, and the change for October was revised up by 24,000, from +12,000 to +36,000. With these revisions, employment in September and October combined is 56,000 higher than previously reported.
- Healthcare added 54,000 jobs in November, leisure and hospitality rose by 53,000, and government employment rose by 33,000.
- Retail trade lost 28,000 jobs in November.
- In November, average hourly earnings for all employees on private nonfarm payrolls rose by $0.13 to $35.61.
- The average workweek for all private employees edged up by 0.1 hour to 34.3 hours in November.
- The labor force participation rate fell slightly again to 62.5% and is 0.9% below its February 2020 level.
- The Right Facts will continue to monitor employment.