The U.S. economy picked up 211,000 new jobs in November according to the Bureau of Labor Statistics (BLS) jobs report Friday.
The monthly report shows slow but relatively positive growth numbers. The unemployment rate, however, stayed at 5.0 percent with 7.9 million individuals out of work. It is essentially unchanged from the 5.1 percent rate in September. Recent monthly reports show positive but slow changes overall in employment.
“Total nonfarm payroll employment rose by 211,000 in November, about in line with the average monthly gain of 237,000 over the prior 12 months,” the report details. “In November, job growth occurred in construction, professional and technical services, and health care. Employment in mining and information declined over the month.”
Though positive, the report also hints the long-term unemployed are still struggling. The civilian labor force participation, which tracks those employed or seeking employment, has changed little. The rise in jobs is likely caused by those new to the workforce or who were not previously suffering from long-term unemployment.
Nevertheless, the positive aspect of the report is commended by the Department of Labor. The agency, which is responsible for labor and employment standards, notes the report is “good news” overall. The report tracks many industries but excludes farm workers, private household employees and nonprofits.
There is also positive news for wages. Average hourly earnings for all private sector employees increased by four cents to $25.25. People on average are able to take home more pay as of recently with average hourly earnings rising by 2.3 percent over the past year.
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