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BumRushDaShow

(144,243 posts) Fri Dec 6, 2024, 08:32 AM Dec 6

Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%

Source: CNBC

Published Fri, Dec 6 2024 8:30 AM EST Updated 5 Min Ago

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000.

The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate edged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons edged higher to 7.8%.

Job gains were focused in health care (54,000), leisure and hospitality (53,000) and government (33,000), sectors that have consistently led payroll growth for the past few years.

Read more: https://www.cnbc.com/2024/12/06/jobs-report-november-2024.html

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Payroll employment rises by 227,000 in November; unemployment rate changes little at 4.2% https://bls.gov/news.release/empsit.nr0.htm
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8:31 AM · Dec 6, 2024

Article updated.

Previous articles -

Published Fri, Dec 6 2024 8:30 AM EST Updated 4 Min Ago

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000.

The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate edged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons edged higher to 7.8%.

This is breaking news. Please check back for updates.

Published Fri, Dec 6 2024 8:30 AM EST Updated 2 Min Ago

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000.

The unemployment rate, however, edged higher to 4.2%, as expected.

This is breaking news. Please check back for updates.

Original article -

Published Fri, Dec 6 2024 8:30 AM EST

Nonfarm payrolls were expected to increase 214,000 in November, according to the Dow Jones consensus forecast.

This is breaking news. Please check back for updates.

5 replies

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Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2% (Original Post) BumRushDaShow Dec 6 OP

Last 2 months revised up by 56,000 nmmi Dec 6 #1

Only for the orange asshole to come in and destroy all the gains made Javaman Dec 6 #2

The empty office building crisis is about to hit. maxsolomon Dec 6 #4

But but, the price of eggs! FailureToCommunicate Dec 6 #3

A year from now we will be in A depression and people will be begging for Biden economy Dangling0826 Dec 6 #5

nmmi

(206 posts)

1. Last 2 months revised up by 56,000

Reply to BumRushDaShow (Original post)

Fri Dec 6, 2024, 09:05 AM

Dec 6

https://www.bls.gov/news.release/empsit.nr0.htm

The change in total nonfarm payroll employment for September was revised up by 32,000, from +223,000 to +255,000, and the change for October was revised up by 24,000, from +12,000 to +36,000. With these revisions, employment in September and October combined is 56,000 higher than previously reported.

So we have 227k + 56k = 283k more jobs than were reported a month ago (in the 11/1/24 report)

A "couple" of other stats from the separate Household Survey that most famously produces the unemployment rate:

Employed: -355k (here we go again - big divergence between the two reports)
Unemployed: +161k
Labor force: -193k
LFPR Labor Force Participation Rate: 62.6% -> 62.5%,
U-6 unemployment rate: 7.8%

Prime age (ages 25-54) labor force participation rate
http://data.bls.gov/timeseries/LNS11300060
1st 11 months of 2024:
2024 83.3 83.5 83.4 83.5 83.6 83.7 84.0 83.9 83.8 83.5 83.5
So it's down 0.5 percentage points from July (84.0)
But still 0.4 percentage points above the pre-pandemic high (January 2020: 83.1).

The next report is the SECOND FRIDAY in January, January 10. Breaking the "First Friday" rule like it does once or twice a year.

Javaman

(63,196 posts)

2. Only for the orange asshole to come in and destroy all the gains made

Reply to BumRushDaShow (Original post)

Fri Dec 6, 2024, 09:07 AM

Dec 6

One year from now, we will be living in a vastly different economy. Not the good kind

maxsolomon

(35,359 posts)

4. The empty office building crisis is about to hit.

Reply to Javaman (Reply #2)

Fri Dec 6, 2024, 12:38 PM

Dec 6

Developers are defaulting on multi-million-dollar loans already.

You could be very right.

FailureToCommunicate

(14,349 posts)

3. But but, the price of eggs!

Reply to BumRushDaShow (Original post)

Fri Dec 6, 2024, 10:43 AM

Dec 6

Dangling0826

(30 posts)

5. A year from now we will be in A depression and people will be begging for Biden economy

Reply to BumRushDaShow (Original post)

Fri Dec 6, 2024, 02:38 PM

Dec 6

At least Trump isn't a woman. The one bright side is maybe after everything collapses, we will get real change like we got back in the 30's with FDR and the new deal!

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