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UNEMPLOYMENT RATE LOWERS TO 3.7% IN NOVEMBER IN US AND EMPLOYMENT IS UP AGAIN

Unemployment Rate Lowers To 3.7% In November In Us And Employment Is Up Again
Unemployment Rate Fell To 3.7% In November In The Us And Job Creation Rose Again

MINNEAPOLIS, MN.-

The unemployment rate in the United States fell two-tenths in November compared to October and stood at 3.7%, according to data published this Friday by the Bureau of Labor Statistics (BLS).

The net creation of new jobs rose again in the eleventh month of the year and 199,000 new jobs were created, 49,000 more than were created a month earlier.

After a sharp slowdown in October, when 150,000 new jobs were created, almost half a month before, this month job creation has recovered again, a significant data tun -an to the Federal Reserve (Fed) to decide on rate hikes.

The bad data for October has a lot to do with the strikes in the auto sector promoted by the union United Auto Workers (UAW) against General Motors (GM), Ford and Stellantis, which kept most of the activity paralyzed in weeks, and where they finished last month.

And now, the recovery in November has to do with workers returning to their jobs, the BLS notes.

However, the 199,000 jobs created were below the average monthly earnings of 240,000 over the past twelve months, although this was in line with employment growth in recent years.

By sector, net manufacturing employment increased by 28,000 people in November, with the creation of 30,000 jobs in the motor and spare parts sector due to the return of workers after the strike.

Health care added 77,000 jobs; public employment increased by 49,000 people; 40,000 jobs were created in entertainment and hospitality; in social assistance, 16,000; while retail trade decreased by 38,000 people in November.

Of this, the number of unemployed workers in the country is 6.3 million people.

In November, average hourly earnings for all employees on private nonfarm payrolls rose 12 cents, or 0.4%, to $34.10. Over the past 12 months, average hourly earnings have increased by 4%.

The Fed will take data like this into account when making its next interest rate decision. At their last meeting held in November, they decided to stop the hike after eleven increases and kept it at the current range of 5.25% and 5.5%, their highest level since 2001.

Next week, on the 12th and 13th, the members of the Federal Open Market Committee (FOMC) will hold their last meeting of the year and announce whether they will make a new increase, in the context where inflation has returned below it. streak

In October it fell by five tenths to 3.2%. November data will be released on Tuesday, a day before the Fed announces its decision.

These employment data are known when the United States registered an unexpected rebound in its gross domestic product, which increased by 1.3% in the third quarter, with an annual growth rate of 5.2%.

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Unemployment Rate Lowers To 3.7% In November In Us And Employment Is Up Again

Unemployment Rate Lowers To 3.7% In November In Us And Employment Is Up Again

Unemployment Rate Lowers To 3.7% In November In Us And Employment Is Up Again

Unemployment Rate Lowers To 3.7% In November In Us And Employment Is Up Again

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