US Employers Added 210,000 Jobs in November, Less Than Half of Estimates

Contact Your Elected Officials
The Epoch Times Header

U.S. employers added a paltry 210,000 jobs in November, sharply below consensus forecasts of 550,000 and more than half as many as in October, though the underwhelming job creation numbers triggered Wall Street stock futures to shoot up, as investors bet it would ease pressure on the Fed to accelerate its timetable for scaling back stimulus.

The Labor Departmentโ€™s jobs reportreleased Dec. 3, shows that non-farm payroll employment rose by 210,000 in November after rising by a revised 546,000 in October.

The unemployment rate fell 0.4 percentage points to 4.2 percent, a 21-month low, while the total number of unemployed persons fell by 542,000 to 6.9 million.

The labor force participation rate, a measure of people working or actively looking for work, edged up 0.2 percentage points to 61.8 percent, the report also showed. While thatโ€™s an improvement over Octoberโ€™s rate, it remains a historically depressed level. In February 2020, the labor force participation rate stood at 63.6 percent, with a historical peak of 67.3 percent in April 2000.

โ€œLabor force participation rose, a welcome sign,โ€ Bankrate Senior Economic Analyst Mark Hamrick told The Epoch Times in an emailed statement. โ€œWage growth remains solid with a year-over-year gain of 4.8 percent, while mindful that inflation has been running hot.โ€

Surging inflation and signs of continued labor market recovery have put pressure on Fed policymakers to accelerate their schedule for scaling back, or tapering, the central bankโ€™s $120 billion in monthly purchases of U.S. Treasury and mortgage-backed securities.

Federal Reserve Chair Jerome Powell in recent testimony suggested a faster taper than the $15 billion per month reduction thatโ€™s currently in place, while acknowledging that itโ€™s time to โ€œretireโ€ the term โ€œtransitoryโ€ as a description of the current bout of inflation, which hit a 31-year high in the 12 months through October and rose at a faster pace than in September.

Goldman Sachs recently predicted that the persistence of inflationary pressures will force the Fed to double the pace of the taper to $30 billion per month starting in January, which would bring the timeline forward to mid-March.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

The Sacred Honor of the 56

Today we're celebrating the sacred honor of the 56 men who signed the Declaration of Independence.

Alligator Alcatraz: A Bold Step Toward Secure Borders

Alligator Alcatraz funded through FEMA, represents a decisive move by the Trump admin to address illegal immigration with efficiency and resolve.

Is America Broke?

Silicon Valley investor and economic commentator Balaji Srinivasan made...

Hungary: Prideโ„ข Cometh Before the Color Revolution

The EU engaged in a diplomatic siege of the Eastern European nation-state of Hungary pressuring it into embrace global trannyism or face wrath of Brussels.

Understanding the Trump/Musk Feud

The passion Trump and Musk exhibit over the OBBB is not contrived or for show. Each is addressing the problem from completely different approaches.

Noem Waives Environmental Restrictions to Fast-Track Water Barriers in Rio Grande

DHS Sec Kristi Noem waived federal environmental laws to fast-track construction of 17 miles of waterborne barriers in the Rio Grande in South Texas.

Federal Officials Warn of โ€˜Lone Wolfโ€™ Terror Threats on July 4, NY Governor Says

NY Gov. Kathy Hochul confirmed that federal officials informed her about a possible terrorist threat ahead of the July 4 Independence Day holiday.

Record 1 in 5 Buyers of New Cars Committing to $1,000-Plus Monthly Payments: Edmunds

The share of new car buyers committing to make monthly payments of $1,000 or more hit an โ€œall-time highโ€ in the second quarter of 2025.

US Economy Adds 147,000 New Jobs, Unemployment Rate Dips to 4.1 Percent in June

The U.S. job market remained strong in June, as labor conditions continued to hold up amid economic uncertainty.

US Keeps Pressure on Chinese Goods Amid Vietnam Trade Deal

Transshippingโ€”rerouting goods through a third country to disguise the origin of the productsโ€”is a focal point of trade negotiations with Asian markets.

White House Report Reveals Top Earners, Staffers Working for No Salary

The Trump admin released its yearly report that shows the salaries for White House staffers, also revealing officials who arenโ€™t accepting salaries at all.

Transportation Secretary Urges Governors to Remove Political Messages From Crosswalks, Intersections

Duffy sent letters to governors, mayor of D.C., and gov of Puerto Rico urging them to remove political messaging from intersections and crosswalks.

Bessent: US, India Near Agreement to Lower Tariffs

The United States and India are โ€œvery closeโ€ to a trade agreement, Treasury Secretary Scott Bessent said on Tuesday.
spot_img

Related Articles