U.S. Job Growth Slows With 245,000 Jobs Added in November

Headline Roundup December 4th, 2020

U.S. job growth slowed significantly in November with 245,000 jobs created, according to data released Friday by the Bureau of Labor Statistics. Job growth is down from 610,000 in October and 711,000 in September. November’s unemployment rate was 6.7%, down from 6.9% in October.

Coverage was mostly balanced on all sides. Most coverage linked slowing job growth to the resurgence of the COVID-19 coronavirus pandemic, which has recently set records for daily deaths and hospitalizations. Coverage in some right-rated outlets described the numbers as a “disaster” and discussed relief negotiations in Congress. Coverage in some left-rated outlets discussed the idea of a “K-shaped” recovery and suggested that slow growth implied more permanent economic trends.

U.S. Job Growth Slows With 245,000 Jobs Added in November

From the Right
302

The US economy added 245,000 jobs in November — barely more than half the number economists expected — as the coronavirus’ resurgence hampered the labor market’s recovery from the pandemic.

The unemployment rate barely dropped to 6.7 percent last month from 6.9 percent in October amid the record-setting spike in infections, which has led to renewed lockdown measures in some parts of the country, the Bureau of Labor Statistics said Friday.

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From the Center
302

Nonfarm payrolls increased by just 245,000 in November, well below Wall Street estimates as rising coronavirus cases coincided with a considerable slowdown in hiring.

Economists surveyed by Dow Jones had been looking for 440,000 and the jobless rate to decrease to 6.7% from 6.9% in October.

The unemployment rate met expectations, though it fell along with a drop in the labor force participation rate to 61.5%. A more encompassing measure of joblessness edged lower to 12% while the number of Americans outside the labor force remains just above 100 million.

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From the Left
302

Hiring around the U.S. slowed sharply last month as the coronavirus battered the economy, the Labor Department said Friday. Employers added 245,000 jobs in November — the slowest pace of monthly job growth since April, and about half what economists had expected.

Payroll gains last month amount a sharp drop from the 610,000 jobs added in October and 710,000 in September. The nation's unemployment rate, which has steadily declined since peaking at nearly 15% in April, ticked down to 6.7%. But it fell for a bad reason — 400,000 people...

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