Delayed November jobs report shows US added 64K jobs but lost 105K in October
Construction workers build out a new building (Photo by Justin Sullivan/Getty Images)
The Labor Department jobs report released Tuesday shows U.S. employers added 64,000 jobs in November but lost 105,000 in October. The reports for both months were delayed due to the 43-day federal government shutdown.
Big picture view:
The unemployment rate rose to 4.6%, the highest since 2021, but still considered modest by historical standards, since bottoming out at a 54-year low of 3.4% in April 2023.
The November figure is above economists' estimates of 50,000 jobs while the unemployment rate was higher than the 4.4% rate expected.
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Revised August and September jobs report show job losses both months
The November report revised the August and September reports showing job losses down for both months. Employment in August was revised down by 22,000 from a loss of 4,000 jobs to a loss of 26,000 jobs; while September was revised down by 11,000 jobs from a gain of 119,000 jobs to 108,000 jobs.
Combined, August and September employment was down 33,000 more than previously reported.
November's jobs report was originally scheduled for release on Dec. 5, but was delayed by the 43-day government shutdown that stretched into November and impacted the Bureau of Labor Statistics' data collection. The shutdown also precluded the release of the October jobs report, though the BLS included some data from that month in the latest release.
Health care and construction employment up in November
The report shows employment in health care and construction rose. Health care added 46,000 jobs, above the monthly average of 39,000 jobs over the prior 12 months.
In November, 28,000 construction jobs were gained, with nonresidential specialty trade contractors adding 19,000 jobs. There has been little change in construction employment over the previous 12 months.
Federal employment continues to decline
Federal government employment declined by 6,000, following a loss of 162,000 in October when federal employees who accepted a deferred resignation offer came off federal payrolls.
Overall, federal government employment is down by 271,000 since reaching a peak in January.
The Source: Information in this article was sourced from the US Department of Labor, FOX Business, and The Associated Press. This story was reported from Orlando.