| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : US Economy Last Updated: Dec 6, 2013 - 2:23 PM


US added 203,000 jobs in November; Unemployment rate fell to 7%
By Finfacts Team
Dec 6, 2013 - 2:03 PM

Email this article
 Printer friendly page

The US unemployment rate declined from 7.3% to 7.0% in November, and nonfarm payroll employment rose by 203,000. Employment rose in transportation and warehousing, health care, and manufacturing. The broad rate of unemployment was at 13.2%. The labour-force participation rate, a measure of both people who are working and those who are actively looking rose slightly above the October level of 62.8% - -  it's lowest level in more than three decades. The 30-year average stands at around 65.8%.

Incorporating the revisions for September and October, which increased employment growth by 8,000 on net, monthly job gains have averaged 193,000 over the past 3 months.

Transportation and warehousing employment increased by 31,000 over the month, with gains in couriers and messengers (+9,000), truck transportation (+8,000), warehousing and storage (+5,000), and air transportation (+3,000).

Health care added 28,000 jobs in November and has added an average of 19,000 jobs per month thus far this year. Monthly job gains in 2012 averaged 27,000 in the industry. In November, job growth occurred in home health care services (+12,000) and offices of physicians (+7,000), while employment declined in nursing care facilities (-4,000).

Manufacturing added 27,000 jobs in November. Within the industry, food manufacturing (+8,000) and motor vehicles and parts (+7,000) added jobs over the month.

Employment in retail trade continued to trend up (+22,000). Over the prior 12 months, retail employment rose by an average of 31,000 per month. In November, there were job gains in general merchandise stores (+14,000), sporting goods and hobby stores (+12,000), and automobile dealers (+7,000).

Employment also continued to trend up over the month in professional and business services (+35,000), construction (+17,000), and leisure and hospitality (+17,000). Employment in other major industries showed little change.

Average hourly earnings of all employees on private nonfarm payrolls rose by 4 cents in November. Over the past 12 months, average hourly earnings have risen 48 cents, or 2.0%. From October 2012 to October 2013, the Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.9%.

Turning now to our survey of households, the unemployment rate decreased by 0.3%age point in November to 7.0%. The number of unemployed persons fell by 365,000 over the month. Among the unemployed, the number of persons on temporary layoff declined by 377,000 in November, largely reflecting the return of federal workers who were furloughed in October due to the partial government shutdown.

Although the number of unemployed persons declined, the labour force grew by 455,000 in November, reflecting an increase of 818,000 in the number of those employed. The gains in labour force and employment followed declines in October. The labour force participation rate, at 63.0%, changed little in November. The employment-population ratio rose by 0.3 percentage point to 58.6%, offsetting a decrease of the same size in October.

Among the employed, the number of persons working part time for economic reasons fell by 331,000 to 7.7m in November. These individuals would have preferred full-time employment, but had their hours cut or were unable to find full-time work.

Among those neither working nor looking for work in November, 2.1m were considered marginally attached to the labour force, down by 409,000 from a year earlier. The marginally attached are those who had not looked for work in the 4 weeks prior to the survey but wanted a job, were available for work, and had looked for a job within the last 12 months. Of the marginally attached, 762,000 were classified as discouraged workers in November, down by 217,000 from November 2012. Discouraged workers are those who were not searching for work because they believed no jobs were available for them.

Check out our subscription service, Finfacts Premium , at a low annual charge of €25 -

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

US Economy
Latest Headlines
US jobs rose by 215,000 in July; Unemployment rate stable at 5.3%
US economy grew at weak pace in Q2 2015 - Worst expansion since 1945
Decoupling of per capita GDP, productivity, private employment, and median family income in America
US economy stumbles again in 2015
Income gap highest in 30 years; No inequality rise in best-paying US firms
Fed minutes raise doubts about fragility of US recovery
Senate Democrats block trade deal authority for Obama
Five firms held 25% of top US non-financial companies cash pile in 2014
US added 223,000 jobs in April; Broad jobless rate at 10.8%
Investment struggles as dividends/ share buybacks at top US firms to exceed $1tn in 2015
US economic growth plunged in Q1 2015
Why the Fed may (almost) never raise interest rates
US jobless rate falls to 5.5%; Broad rate at 11%; Participation rate at 1978 level
US added 257,000 jobs in January; Broad jobless rate at 11.3%
US economy will soon see best years in a decade
US annualised GDP slowed sharply in final quarter 2014
US budget deficit to fall to 2.6% of GDP in 2015
US added 252,000 jobs in December; Jobless rate falls to 5.6%
US adds 321,000 jobs in November; Private sector adds 10.9m jobs in 57 months of growth
US manufacturing slowed in November
US retail spending over Thanksgiving weekend fell 11%
US consumer spending weak in October; Business investment fell again
US third-quarter GDP revised up to 3.9% annualised rate
After destroying banking secrecy US helps Swiss exporters
US oil imports from OPEC cartel at 30-year low
Tax-inverted "Irish" firm Actavis agrees to buy US Botox maker Allergan
US nonfarm payroll employment rose 214,000 in October' Jobless @ 6-year low
Swiss bankers await fallout of US tax evasion acquittal
Two PMI reports give contrasting trends on US manufacturing
US GDP increased at annualised 3.5% in third quarter of 2014
US city home price growth slowed again in August; Consumer confidence rebounded in September
US new orders for manufactured durable goods fell again in September
Loans to buy US shares at record highs
Global markets slide; US industrial production best in 3 years & jobless claims in 14-year low
US federal budget deficit dips to 2.9% of GDP in fiscal year 2014
US added 248,000 jobs in September; Jobless rate falls to 5.9%
US set to become world’s leading liquid petroleum producer again
Obama issues new rules to combat tax inversions
US Securities and Exchange Commission to pay $30m award to foreign whistleblower
Typical American household income in 2013 was below the 1989 level