12/06/2024

Payrolls Increased 227,000 in November

The figure was higher than expected

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls increased by 227,000 for the month, compared with an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September's payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October's number was held back by impacts from Hurricane Milton and the Boeing strike.

The unemployment rate edged higher to 4.2 percent, as expected. The jobless figure rose as the labor force participation rate nudged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons moved slightly higher to 7.8 percent.

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