US Economy Jobs Up 263K In November, Labor Department Data Shows . The increase in the indicator was the lowest since April last year.
Experts polled by Bloomberg agency expected an even smaller increase in November – by 200 thousand, as well as respondents of Trading Economics. In October, the figure rose by 284 thousand, and not by 261 thousand, as previously reported.
At the same time, unemployment in the US last month remained at the October level of 3.7%. Analysts also did not expect any changes.
In the private sector, the number of jobs increased by 221 thousand, in the public sector – by 42 thousand.
A significant increase in the number of jobs was noted in the leisure and hotel business – by 88 thousand, in the healthcare sector – by 45 thousand. Meanwhile, in the retail trade and in the logistics sector, jobs were reduced by 30 thousand and 15 thousand, respectively.
The average hourly wage in private sector in November increased by 0.6% compared to the previous month – up to $32.82. In annual terms, the indicator rose by 5.1% after rising by 4.9% in October. Thus, the pace of wage increases in the United States is well above the pre-pandemic rates of 2-3%.
The average workweek has decreased to 34.4 hours from 34.5 hours the previous month.
< p> Labor force participation rate fell to 62.1% in November from 62.2% in August.