by Calculated Risk on 12/06/2024 08:30:00 AM

From the BLS: Employment Situation

Total nonfarm payroll employment rose by 227,000 in November, and the unemployment rate changed little at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment trended up in health care, leisure and hospitality, government, and social assistance. Retail trade lost jobs.
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The change in total nonfarm payroll employment for September was revised up by 32,000, from +223,000 to +255,000, and the change for October was revised up by 24,000, from +12,000 to +36,000. With these revisions, employment in September and October combined is 56,000 higher than previously reported.
emphasis added

Click on graph for larger image.

The first graph shows the jobs added per month since January 2021.

Total payrolls increased by 227 thousand in November.  Private payrolls increased by 194 thousand, and public payrolls increased 33 thousand.

Payrolls for September and October were revised up 56 thousand, combined.

The second graph shows the year-over-year change in total non-farm employment since 1968.

In November, the year-over-year change was 2.27 million jobs.  Employment was up solidly year-over-year (Although the annual benchmark revision will lower the year-over-year change).

The third graph shows the employment population ratio and the participation rate.

The Labor Force Participation Rate decreased to 62.5% in November, from 62.6% in October. This is the percentage of the working age population in the labor force.

The Employment-Population ratio decreased to 59.8% from 60.0% in October (blue line).

I'll post the 25 to 54 age group employment-population ratio graph later.

The fourth graph shows the unemployment rate.

The unemployment rate increased to 4.2% in November from 4.1% in October.

This was above consensus expectations, and September and October payrolls were revised up by 56,000 combined.  

This report was boosted by the end of strikes and workers returning after the hurricanes.

I'll have more later ...