The Latest From the BLS Employment Report: 178,000 Jobs Added in November
The US economy added 178,000 jobs in November and the unemployment rate dropped, according to data released Friday by the Bureau of Labor Statistics. The unemployment rate – which has held near 4.9 percent since the spring – dipped to 4.6 percent this month.
In November, employment gains occurred in professional and business services and in health care. The change in total nonfarm payroll employment was revised up for September, from 191,000 to 208,000, and down for October, from 161,000 to 142,000. Considering these revisions, employment gains for September and October combined were 2,000 less than previously reported. Job gains have averaged 176,000 per month over the last 3 months. Private-sector employment is on its longest streak of growth on record.
Economists predicted 180,000 additions ahead of this morning’s jobs report and the report did not quite meet expectations. 178,000 jobs were added this month, which is nearly in line with the six months growth pattern.
This Month’s Report
Let’s break down the numbers from this month’s report:
In November, hourly wages declined $0.03 to $25.89 per hour, bringing the year-over-year wage percentage increase to 2.5%. The unemployment rate dipped to 4.6%.
- $25.89 November
- – 3 cents month-over-month
- + 2.5% year-over-year
- $25.92 October
- 4.6% November
- 4.9% October
In-Depth Look: Our Industries
Let’s dive right into a look at how our industries compare to the national numbers:
- Professional and business services
- Month-over-month change: +63,000
- +571,000 jobs added year-over-year
- Month-over-month change: +19,000
- +155,000 jobs added year-over-year
- Month-over-month change: -4,000
- -54,000 jobs lost year-over-year
- Transportation and warehousing
- Month-over-month change: +8,900
- +60,600 year-over-year job gains
- Health care
- Month-over-month change: +28,400
- +407,000 year-over-year job gains
- Month-over-month change: +5,500
- +133,000 jobs added in the last year
- Administrative and support services
- Month-over-month change: +35,900
- +223,800 jobs added year-over-year
- Office Administrative Services
- Month-over-month change: +2,500
- +24,500 jobs added year-over-year
The market remains hot for job seekers looking for top HR, non-clinical healthcare and supply chain and logistics positions; therefore employers will need to stay competitive. Make sure you’re paying your people the right salary and doing everything you can to recruit and retain the best talent – check out our 2017 Salary Guide.