Jobs Report December 3

December 3, 2021
Jobs Report December 3

The underlying momentum of the labor market is still strong, but this month shows more uncertainty than expected.

Economic Research Director, Nick Bunker, jobs placement website Indeed, on the latest jobs report.
  • In November, the American economy created 210,000 jobs – fewer than expected. Economists were looking for more than double that number. And it's dramatically lower than October, which produced 546,000 jobs.
  • The unemployment rate dropped from 4.6% to 4.2% as more Americans seeking jobs found them.
  • The analysis of the data after the jobs report was released reflects some conflicting undercurrents – on the one hand, more people are looking for work than previous months (a good sign because that means a person is motivated and actively trying to find employment). On the other hand, new job growth isn't as robust as expected, especially in sectors like restaurants, that are most impacted by the pandemic.
  • Why It Matters: This lukewarm report leaves some unanswered questions for the new year on the pace of the job market recovery.

Job growth disappoints in November, with a gain of just 210,000, despite high hopes

US Jobless Rate Sinks to 4.2% as Many More People Find Jobs

by Jenna Lee,