November’s Job Report: Rate Drops to 3.7%

Dec 08, 2023

November’s job report saw a gain of 199,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Employment gains happened in healthcare and government. Employment also increased in manufacturing, due to the end of a strike. Employment in retail trade declined.

November’s unemployment rate was 3.7%, down from 3.9% in October. The civilian labor force participation rate is at 62.8%, up slightly from 62.7% in October.

The report found that average hourly earnings for employees on private, nonfarm payrolls was $34.10. Over the past 12 months, average hourly earnings have increased by 4%.

 

 

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