Jobs Up 178,000 In November; Unemployment Takes Sharp Drop

Econ Indices for Nov 2016U.S. employers added 178,000 new non-farm jobs during November, according to a government employment report that’s only surprise was a sharp decline in the unemployment rate to 4.6%.

Today’s monthly report from the Department of Labor showed private sector employers added 156,000 jobs. The service sector accounted for 139,000. Goods producers accounted for 17,000, nearly all of them in the construction sector. Government added 22,000 workers , the majority of those hired by cities, towns and counties.

Job growth was right where economists were forecasting, though they weren’t expecting a decline in October’s 4.9% unemployment rate. November’s rate is at the lowest level since August 2007.

A broader measure of under- and unemployment, the so-called U-6 measure, also declined from 9.5% in October to 9.3%.

“A solid report but not quite as good as the headline numbers would indicate,” one senior economist told The New York Times. There’s mixed news there,” Gus Faucher, deputy chief economist at PNC, said.

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The decline in unemployment was due more to a reduction in the size of the labor force, than to the unemployed finding work, he said.  And average hourly wages declined by 3 cents to $25.89, following an 11-cent increase in October. Over the year, average hourly earnings have risen by 2.5%.

The biggest job gains in November came in health care, which added 28,400 jobs with ambulatory services accounting for 22,200. Other gainers and losers:

  • Leisure and hospitality +29,000, bars and restaurants adding 18,900.
  • Accounting and bookkeeping services +17,700
  • Employment services +21,300 with temp staffing agencies adding 14,300.
  • Retail shed 8,300 jobs with clothing and clothing accessories stores cutting 17,600 jobs.
  • Information -10,000. The sector includes publishing, telecom, motion pictures and broadcasting.
  • Manufacturing -6,000

John Zappe is the former editor of TLNT.com and contributing editor of ERE.net. John was a newspaper reporter and editor before transitioning to digital media. In 1994, he launched one of the  first newspaper sites. Before joining ERE Media , John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group where he developed and managed a team of developers, content producers and digital advertising and marketing specialists.

Today, John is a contract writer producing whitepapers, blog posts, thought leadership articles and marketing content and managing  social media programs. He also works with organizations and businesses to assist with audience development and marketing.His website is JohnZappe.com.

In his spare time he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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