Summary
In November, job growth in the U.S. was weak but not disastrous. Employment numbers have not dropped significantly, showing the labor market is stable despite some job losses, especially in small companies.
Key Facts
- In November, private-sector jobs fell by 32,000, mostly in the smallest companies.
- The three-month average for job change is almost flat at -4,700 jobs.
- The unemployment rate was steady, at about 4.44% in November.
- Weekly unemployment insurance claims are averaging 215,000, lower than spring and summer numbers.
- Bank of America data shows payroll growth slowed to 0.2% year over year in November.
- Larger anticipated job losses have not materialized, indicating supply issues, not demand problems, influence job numbers.
