The U.S. added 64,000 jobs in November, beating the Dow Jones estimate of 45,000 and following a 105,000-job loss in October. The unemployment rate rose to 4.6% from 4.4% in September, the highest percentage in more than four years.
The healthcare sector added 46,000 jobs, accounting for more than 70% of the total net increase, according to the Dec. 16 report from the Bureau of Labor Statistics. Health care added 46,000 jobs, accounting for more than 70% of the total net increase.
Construction rose by 28,000, while social assistance contributed 18,000. Manufacturing lost 5,000 jobs in November, after shedding 9,000 in October. Meanwhile, the leisure and hospitality sector cut 12,000 jobs last month, while transportation and warehousing was off 18,000.
The data was delayed due to the 6-week government shutdown. The BLS said the household survey, which is used to calculate the unemployment rate, will be affected by the shutdown for several months.
October’s jobs decline was due to the drop in government employment as deferred layoffs instituted earlier this year took effect. Government payrolls were off 162,000 for the month, and fell an additional 6,000 in November, according to the BLS report.
Average hourly earnings rose just 0.1% for the month, below the estimate for 0.3%, and were up 3.5% from a year ago, the smallest annual gain since May 2021. In November, average hourly earnings for all employees on private nonfarm payrolls edged up by 5 cents, or 0.1 percent, to $36.86. Over the past 12 months, average hourly earnings have increased by 3.5 percent. In November, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.3 percent, to $31.76.
There is currently no leadership at the BLS following President Donald Trump’s firing of BLS Commissioner Erika McEntarfer. His nominee to replace McEntarfer, EJ Antoni, was withdrawn in late September after bipartisan criticism over his lack of qualifications. The agency also lost 20% of its staff— 2,058 employees — from fiscal year 2024.
“The US economy is in a jobs recession,” Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary issued Tuesday.
The Employment Situation for December is scheduled to be released on Friday, Jan. 9.