Labor Numbers Come in Slightly Higher Than Anticipated

worker man industrial manufacturing november jobs us bls 2023
Total nonfarm payroll increases slightly outpaced expectations in November.

Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate went down to 3.7 percent, the U.S. Bureau of Labor Statistics reported in early December.

The job gains were most prevalent in the areas of health care and government. It also increased in manufacturing, reflecting the return of workers from a strike. Employment in retail trade declined.

Health care added 77,000 jobs, above the average monthly gain of 54,000 over the prior 12 months. Over the month, job gains continued in ambulatory health care services, hospitals, and nursing and residential care facilities.

Government employment increased by 49,000 in November, in line with the average monthly gain of  55,000 over the prior 12 months. Employment continued to trend up in local government and state government over the month.

Manufacturing rose by 28,000 in November, reflecting an increase of 30,000 in motor vehicles and parts as workers returned from a strike. Employment in manufacturing has shown little net change over the year.

The labor force participation rate was little changed at 62.8 percent and has been essentially flat since August.

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.4 percent, to $34.10. Over the past 12 months, average hourly earnings have increased by four percent. In November, average hourly earnings of private-sector production and nonsupervisory employees rose by 12 cents, or 0.4 percent, to $29.30. 

In November, the number of persons not in the labor force who currently want a job was 5.3 million.


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