U.S. Added 227,000 Jobs In November As Employment Bounced Back; Figures Show Slight Gains In Movie And Music Business
The U.S. economy added 227,000 jobs in November, as employment bounced back from a lackluster previous month. The unemployment rate was largely unchanged at 4.2%.
The Bureau of Labor Statistics, the government agency that compiles the figures, also revised upward job gains in the two previous months. The bureau said that 36,000 jobs were added in October, up 12,000 from previous figures, in a month that was impacted by two major hurricanes and a UAW strike. The September figure was revised upward by 32,000 to 255,000.
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The major job gains were in health care, leisure and hospitality, government and social assistance, while the retail trade lost jobs.
The picture was mixed in media industries. Jobs in movies and music rose by 1,900 to 444,900, while employment in publishing dropped by 3,000 to 921,600. Jobs in broadcasting and among content providers fell by 1,500 to 334,100.
This was the first employment report since the presidential election, and is further indication that President-elect Donald Trump enter office with a bright economic picture. President Joe Biden has touted the numbers, along with lowering inflation, but exit polls still suggested that message wasn’t resonating with voters.
Average hourly earnings rose by 13 cents, or 0.4%, to $35.61. Over the past 12 months, average hourly earnings have increased by 4%.
More to come.
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