U.S. Economy Adds 321,000 Jobs In November; Unemployment Rate Unchanged At 5.8 Percent

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The U.S. economy added 321,000 nonfarm payroll jobs in November, the largest gain since January 2012, and higher than the 260,000 nonfarm payroll jobs forecasted by briefing.com. while the unemployment rate was unchanged at 5.8 percent,  according to a new release today from the Bureau of Labor Statistics.

Over the past 12 months, the average monthly gain of nonfarm payroll jobs has been 224,000.

Job revisions for September and October were 44,000 higher than previously reported.

September was revised from 256,000 to 271,000 while October was revised from 214,000 to 243,000

Today’s employment report for November showed the labor force participation rate held at 62.8 percent, mostly unchanged since April.

Employment gains were highest in professional and business services which had an increase of 86,000 in November, followed by retail with  50,000, and healthcare which saw gains of 29,000 for the month.

Average hourly earnings for all employees on private nonfarm payrolls increased $24.66 in November, a 9 cent increase.

For the year, average hourly earnings grew by 2.1 percent.

In November, the average workweek for all employees on private nonfarm payrolls increased  by 0.1 hour to 34.6 hours.

-Johnathan Schweitzer

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