Friday, December 03, 2021

Another rotten jobs month: Just 210,000 new hires in November

The Joe Biden economy is flounderering

From Fox Business:

U.S. job growth significantly undershot expectations in November, suggesting that difficulty in attracting new workers is weighing on the labor market's recovery from the pandemic, even as COVID-19 cases dissipate nationwide. 

The Labor Department said in its monthly payroll report released Friday that payrolls in November rose by just 210,000, well below the 550,000 jobs forecast by Refinitiv economists. It marked the slowest job growth this year. The unemployment rate (which is calculated based on a separate survey) dropped more than expected to 4.2% from 4.6% — the lowest level since the pandemic began.

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