Total nonfarm payroll employment grew by 199,000 jobs in November, according to the latest BLS jobs report. This figure is below the 12-month average of +240,000 jobs per month. The unemployment rate inched down to 3.7%, accounting for 6.3 million unemployed people, and labor force participation came in at 62.8% for the month.
Healthcare (+77,000), government (+49,000), and leisure and hospitality (+40,000) led job growth in November, while retail trade experienced a notable decline (-38,000).
Jobs in temporary help services also dropped over the month, decreasing by 13,600 jobs, and professional and business services lost 9,000 jobs.
The latest report also shows a revision in total nonfarm employment for September, down to 262,000 from the previously reported 297,000. But October’s count stayed at 150,000.
