US Economy Added 210,000 Jobs in November

This morning’s jobs report showed that the U.S. economy created just 210,000 net new jobs last month. That’s another big miss. Wall Street had been expecting an increase of 573,000 jobs.

The unemployment rate fell to 4.2%. The unemployment rate is currently lower than it was at any point from March 1970 until February 1999.

A more encompassing measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons dropped even more, tumbling to 7.8% from 8.3%. The survey of households painted a more optimistic jobs picture, indicating an employment gain of 594,000 for the month.

Leisure and hospitality, which includes bars, restaurants, hotels and similar businesses, saw a gain of just 23,000 after being a leading job creator for much of the recovery.

Despite the disappointment, markets largely shrugged off the numbers, with stocks pointing to a higher open on Wall Street.

In the last year, wages are up 4.8%. The workforce participation rate rose to 61.85% from 61.65%.

Posted by on December 3rd, 2021 at 9:03 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.