12.04.2020
Total nonfarm payroll employment rose by 245000 in November and the unemployment rate edged down to 6.7 percent the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However the pace of improvement in the labor market has moderated in recent months
In November the unemployment rate edged down to 6.7 percent. The rate is down by 8.0 percentage points from its recent high in April but is 3.2 percentage points higher than it was in February. The number of unemployed persons at 10.7 million continued to trend down in November but is 4.9 million higher than in February.
Employment in transportation and warehousing rose by 145000 in November but is 123000 below its February level. In November employment rose by 82000 in couriers and messengers and by 37000 in warehousing and storage; since February employment in these industries has increased by 182000 and 97000 respectively. Job growth also occurred over the month in truck transportation (+13000).
In November employment in professional and business services increased by 60000 with about half the gain occurring in temporary help services (+32000). Job growth also occurred in services to buildings and dwellings (+14000). Employment in professional and business services is down by 1.1 million since February.
Health care added 46000 jobs in November with gains occurring in offices of physicians (+21000) home health care services (+13000) and offices of other health practitioners (+8000). Nursing care facilities continued to lose jobs (-12000). Health care employment is 527000 lower than in February.
Construction gained 27000 jobs in November but employment is 279000 below its February level. In November employment rose in residential specialty trade contractors (+14000) and in heavy and civil engineering construction (+10000).
In November manufacturing employment increased by 27000. Job gains occurred in motor vehicles and parts (+15000) and in plastics and rubber products (+5000). Employment in manufacturing was 599000 lower than in February.
Financial activities added 15000 jobs in November. Gains occurred in real estate (+10000) and in nondepository credit intermediation (+8000). Financial activities has added 164000 jobs over the past 7 months but employment in the industry is 115000 lower than in February.
Employment in wholesale trade continued to trend up in November (+10000) but is 281000 lower than in February.
Government employment declined for the third consecutive month decreasing by 99000 in November. A decline of 86000 in federal government employment reflected the loss of 93000 temporary workers who had been hired for the 2020 Census. Employment in local government education continued to trend down (-21000).
In November retail trade lost 35000 jobs reflecting less seasonal hiring in several retail industries. Employment decreases occurred in general merchandise stores (-21000); sporting goods hobby book and music stores (-12000); electronics and appliance stores (-11000); and health and personal care stores (-8000). By contrast furniture and home furnishings stores and automobile dealers added 6000 jobs and 4000 jobs respectively. Employment in retail trade is 550000 lower than in February.
Employment in leisure and hospitality changed little in November (+31000) but is down by 3.4 million since February. Arts entertainment and recreation added 43000 jobs in November while employment in food services and drinking places changed little (-17000).
Employment in other major industries including mining information and other services showed little change in November.
The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in November. In manufacturing the workweek decreased by 0.2 hour to 40.3 hours and overtime decreased by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.2 hours.
The full BLS press release on the November 2020 employment situation can be accessed in the link below:
The next Employment Situation for December 2020 is scheduled to be released on Friday January 8 2021.
