U.S. Job Growth Slows With 245,000 Jobs Added in November
Summary from the AllSides News Team
Featured Coverage of this Story
From the Right
US adds 245,000 jobs in November as COVID-19 surge hampers labor market
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.
From the Center
Employment growth slows sharply in November amid coronavirus surge
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.
From the Left
Job growth slowed sharply in November, weighed down by COVID-19
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...
AllSides Picks
April 16th, 2024
April 19th, 2024
More News about Economy and Jobs from the Left, Center and Right
From the Left
From the Center
From the Right
