U.S. Labor Market Recovery Lost Steam In November With A Sluggish 210,000 New Jobs

  • 📰 Forbes
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The low number of jobs added indicates the labor market is still struggling to add back jobs lost during the pandemic

Though unemployment fell to its lowest level in nearly two years, the U.S. added back a worse-than-expected 210,000 jobs in November—indicating the labor market is still struggling to add back jobs lost during the pandemic amid the looming threat of a new coronavirus variant.... [+]November’s new job gains were significantly less than the roughly 575,000 new jobs expected by economists, according to dataDespite the worse-than-expected report, the unemployment rate clocked in at 4.

The number of unemployed people in the United States fell by 542,000 to 6.9 million, which is much better than pandemic highs around April 2020 but still more than the 5 million in February 2020, the government said. Additionally, the labor force participation rate, which measures the percentage of workers who are employed or actively seeking employment, edged up to 61.8%, but has barely budged since June 2020.

The U.S. has thus far recovered about 80% of the 20.5 million jobs U.S. employers cut between March and April of last year.“Friday’s weaker-than-expected jobs report adds to the fear we’ve seen this week with the omicron variant, and it may stoke fears of stagflation, which consists of slower economic growth and higher inflation,” Jay Pestrichelli, the CEO of Florida-based investment firm Zega Financial, said in an email.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good jobs like here..

That's the most positive news we had this week. Look at every market and the disaster.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Black women see unemployment rate fall sharply in November, but are still left behind in overall labor market recoveryThe unemployment rate for Black women fell sharply in November, but labor market recovery from pre-pandemic levels remains uneven across race and gender lines.
Source: CNBC - 🏆 12. / 72 Read more »

What Jim Cramer is watching in the market Thursday, including Apple and BoeingInvesting Club: What Jim Cramer is watching in the market Thursday, including Apple and Boeing NEW: For 25 years, a man sold dirt on the internet — most recently for $110 per bag. This summer, some Facebook groups began posting that they were cooking and bathing with it. Strong BUY! What companies besides $PFE & $MRNA will benefit from militarily enforced vaccinations? forced
Source: CNBC - 🏆 12. / 72 Read more »