Civic Register
| 12.3.21
Economy Added 210K Jobs in November, Falling Short of Expectations
How do you feel about the state of the job market?
What’s the story?
- The Bureau of Labor Statistics (BLS) on Friday released its jobs report for November 2021, which found the U.S. economy added 210,000 jobs and the unemployment declined by 0.4 percentage points to 4.2%. The report falls short of the Dow Jones forecast of 573,000 jobs added.
- With November’s gains, the U.S. economy has recovered about 83% of the jobs lost, leaving 3.9 million left to be regained.
Jobs Report Sector Breakdown
- Professional and business services added 90,000 jobs in November, with most coming in administrative and waste services (+42,000), management and technical consulting services (+12,000), and computer system design (+10,000). The sector is 69,000 jobs below its February 2020 level.
- Construction employment increased by 31,000 jobs with gains in specialty trade contractors (+13,000), building construction (+10,000), and heavy and civil engineering construction (+8,000). The sector is 115,000 jobs below its February 2020 level.
- Manufacturing added 31,000 jobs in November with notable gains in miscellaneous durable goods manufacturing (+10,000),
- Transportation and warehousing added 50,000 jobs with gains focused in couriers and messengers (+27,000) and in warehousing and storage (+9,000). The sector is 210,000 jobs above its February 2020 level.
- Leisure and hospitality employment saw small gains, adding 23,000 jobs in November. The sector is down 1.3 million jobs compared to February 2020.
- Retail employment declined by 20,000 in November, with losses in general merchandise (-20,000); clothing and accessories stores (-18,000); and sporting goods, hobby, book, and music stores (-9,000) more than offsetting gains in food and beverage stores (+9,000) and building material and garden supply stores (+7,000). The sector is down 176,000 jobs compared to February 2020.
Long-Term Unemployment
- The number of Americans considered to be long-term unemployed (defined as jobless for 27 weeks or more) declined slightly to 2.2 million in November, down from 2.3 million in October.
- The number of long-term unemployed is 1.1 million higher than February 2020. Long-term unemployed accounted for 32.1% of the total unemployed in November.
Demographic Unemployment Information
- Unemployment rates declined for adult men (to 4.0% from 4.3% in October), adult women (4.0% from 4.4% in October), and teenagers (11.2% from 11.9% in October).
- Unemployment rates declined among whites (3.7% from % in October), blacks (6.7% from 7.9% in October), Hispanics (5.2% from 5.9% in October), and Asians (3.8% from 4.2% in October).
Revisions & Data Notes
- Employment in September was revised up by 67,000 from +312,000 to +379,000.
- Employment in October was revised up by 15,000 from +531,000 to +546,000.
- As it has since March 2020, the BLS published an estimate of what the unemployment rate would have been had misclassified workers been included. The misclassification hinges on a question about the main reason people were absent from their jobs, with people absent due to temporary, pandemic-related closures recorded as absent due to “other reasons” as opposed to unemployed due to temporary layoff.
- Using this approach, the November unemployment rate would have been 0.1 percentage points higher than reported. The BLS notes that this represents the upper bound of their estimate of misclassification and probably overstates the size of the misclassification error.
- According to usual practice at the BLS, data is accepted as recorded in the household survey. To maintain data integrity, no ad hoc actions are taken to reclassify survey responses.
— Eric Revell
(Photo Credit: iStock.com / Warchi)
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While there are a lot of areas where employers still need employees, the pandemic has given people with woefully inadequate wages the courage to say that enough is enough and to seek out other jobs where they can make a livelihood. All CEOs should have a wage cap so that their workers can have a wage that they can live off of and mandate businesses to provide insurance for all workers. If CEOs wages were not so extraordinarily high then the cost of products would not have to increase. No CEO should be earning thousands or hundreds of thousands of dollars an hour.
When Trump produced 200,000 jobs, the media said it was a great job. Now, Biden does the same during a pandemic and the press is negative,
Off-topic that must to be mentioned, Mark Meadows is nothing short of an American Nazi trying to undermine this country under the sick grifter thumb of Donald Trump.
I find all the whining from the right about hand outs interesting when some red states are giving unemployment insurance to anti-vaxxers who have lost their jobs. Hypocrites?
pay living wages, allow workers to unionize, and democratize the work place. Tax corporate earnings at 90%, like we did up until the 70s.
This whole situation is one big mess. Corporations and large businesses don't want to lose their profit margin, yet the average employee can't afford to live off what wages those businesses are willing to pay. It all boils down to GREED. This is going to make a few people angry, but----the time has come for regulating capitalism and breaking up monopolies in the corporate arena. No matter what is done, there will always be an increase in the cost of living whether it be food cost, housing, utilities, medical, and whatever else. The basics are food, shelter, and clothing. These need to be regulated and of good quality at reasonable prices. Throw in above average public education and medical and things would greatly improve. When it comes to Congress, there are "too many cooks in the kitchen" stirring the pot and adding ingredients which result in ruining the end product. Changes need to be made and NOT by Fascist or Socialistic means. We need common sense back into play ASAP.
The Biden administration has done more to help our economy recover & our unemployment is lower than before the Pandemic. The economy under the Frump Presidency did not do as well. Republican's only helped the Top 1% & Corporate America, as well as themselves with a Huge Tax Cut in 2017. Biden has not even been President for a year yet & he has done more for our Country than the Do Nothing Republican, who under the leadership of Moscow Mitch did noting for Americans, than stand behind the Lying Frump & allowing the Jan. 6th attack on our Capital to overthrow our Democracy. As a Voter, I will do everything I can to Vote Out every Corrupt Republican I can, alon with millions of others who know the Truth. Frump & the Republicans are responsible for thousands of people dying from Covid by LYING about the deadly Virus!
Sorry, folks, working people have to be able and willing. Having a government safety net is good, but there comes a point where "I just don't want to" doesn't cut it anymore. And we're there.
I refuse to give into all the fear mongering. Fact, job rates fluctuate especially within the confines of a global pandemic and the instabilities of anti democratic forces. We are in a transitional process, if we continue to build our systems on democratic principles and transparency to sustain these transitional changes I am sure that these temporary fluctuations will correct themselves and/or catch up to positive projected outcomes. Change is inevitable you got to go with the flow, keep the faith and know that this to shall pass. The focus should always be on the bigger picture and building back better.
Any chance we can pass a law that anyone who complains in public about "socialism" is no longer eligible for Social Security, Medicare, or Medicaid? We can call it the "End Hypocrisy Now" movement.
If you want your workers to come back, offer them a reason to do so. A potential increase in prices from offering higher wages will be offset by an increase in buying power from those same higher wages. When lower-wage workers can still afford to buy things, everyone wins.
I am ok with job growth as it is occurring!! There is going to be growth on an uneven basis as things improve and we still deal the dynamics of the COVID pandemic. Job growth is occurring and the economic recovery is progressing forward!! I am good as long as we are moving forward!!
There are jobs available, but nobody wants to return to slave wages & mistreatment.
Ooooh noooooo!!! Not the scary and consistently inaccurate jobs report! We've been through this drill so many times it's become a joke. When they adjust the numbers up in another month or two, will all the GQP faction cultists acknowledge the error??? Nope, then it becomes fake news but it's a fact right now so let's all clutch those pearls and reach for the fainting couch...
Well, at least this can't be blamed on unemployment benefits. If women had affordable and reliable childcare, they could get back to work. For once in my lifetime, employers don't have the upper hand. Worked all my life without gender equality with regard to respect and pay. Never so glad to be retired!
In the middle of a global pandemic, we're down to well under 5% unemployment, almost all sectors of industry need more workers, and the economy already exceeds pre-pandemic levels. What's not to like?
Gosh, that is not at all what I heard. Are you sure that you have the correct numbers? You just can not believe anything anymore.
In this time of Covid I think the labor market is going as well as it can.
Seeking and obtaining employment depends on the company. Most companies do not know how to properly announce job openings. When they do they ask for experience but want to pay people starting salaries. When people apply for a job a system is used to look for specific words on the resume. If the words are not there no one will contact the person for an interview. Companies will ghost a person before or after an interview. This really falls on the companies not on government. There are so many numerous issues affecting why people are not receiving employment.
We need good paying jobs with a living wage now!!