Hiring Pace Slows

By Staff Writer December 06, 2021 260

Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported this week.

However, jobs were forecast to rise by more than 570,000.

Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing.

Employment in retail trade declined over the month.

The bureau’s news release contains statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry.

In November, the number of unemployed persons fell by 542,000 to 6.9 million. Both measures are down considerably from their highs at the end of the February-April 2020 recession. However, they remain above their levels prior to the coronavirus (COVID-19) pandemic (3.5 percent and 5.7 million, respectively, in February 2020).

The number of long-term unemployed (those jobless for 27 weeks or more), at 2.2 million, changed little in November but is 1.1 million higher than in February 2020. The long-term unemployed accounted for 32.1 percent of the total unemployed in November.

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Last modified on Monday, 13 December 2021 14:32