U.S. Economy Beats Expectations by Adding 266K Jobs in November
How do you feel about the U.S. economy?
by Countable | 12.6.19
Here’s a look at the November job numbers by sector:
- Manufacturing employment rose by 54,000 in November after a decline of 43,000 in October, which in part reflects the return of 41,000 workers who were on strike in October.
- Healthcare added 45,000 jobs, an increase over the 15,000 it added in October, which brings the 12 month total to 414,000 jobs.
- Professional & technical services gained 31,000 jobs in November, bringing the 12 month total to 278,000 jobs.
- Leisure & hospitality employment grew by 45,000 jobs, bringing gains in the sector over the last 4 months to 219,000 jobs.
- Financial services employment increased by 13,000 jobs, bringing the 12 month total to 116,000 jobs.
- Mining employment decreased by 6,000 jobs to a level that’s 19,000 jobs below its recent peak in May.
- Employment in construction, wholesale trade, and government were little changed from October.
Average hourly earnings for workers on private, nonfarm payrolls grew 7 cents, bringing the average increase for the last 12 months to 3.1%, slightly up from October’s 3.0%.
Additionally, revisions were made to the September and October nonfarm payroll reports: September’s job gains were revised upward by 13,000 to 193,000; while October’s were also revised up by 28,000 to 156,000. After the revisions, job gains averaged 205,000 over the last 3 months.
— Eric Revell
(Photo Credit: iStock.com / inakiantonana)
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