Nonfarm payroll employment fell sharply (-533,000) in November, and
the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported. November's
drop in payroll employment followed declines of 403,000 in September and 320,000 in October, as revised. Job losses were large and widespread
across the major industry sectors in November.
Both the number of unemployed persons (10.3 million) and the unemployment
rate (6.7 percent) continued to increase in November. Since the start of
the recession in December 2007, as recently announced by the National Bureau
of Economic Research, the number of unemployed persons increased by 2.7
million, and the unemployment rate rose by 1.7 percentage points.
The unemployment rates for adult men (6.5 percent) and adult women (5.5 percent) continued to trend up in November. The unemployment rates for teenagers (20.4 percent), whites (6.1 percent), blacks (11.2 percent), and Hispanics (8.6 percent) showed little change over the month. The jobless rate for Asians was 4.8 percent in November, not seasonally adjusted. Among Hispanics, unemployment rate was 8.8% last month.
Among the unemployed, the number of persons who lost their job and did not expect to be recalled to work increased by 298,000 to 4.7 million in November.
Over the past 12 months, the size of this group has increased by 2.0 million.
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.2 million in November, but was up by 822,000 over the past 12 months.
In November, the labor force participation rate declined by 0.3 percentage
point to 65.8 percent. Total employment continued to decline, and the employment-population ratio fell to 61.4 percent.
Over the month, the number of persons who worked part time for economic reasons (sometimes referred to as involuntary part-time workers) continued to increase, reaching 7.3 million. The number of such workers rose by 2.8 million over the past 12 months. This category includes persons who would like to work full time but were working part time because their hours had been cut back or because they were unable to find full-time jobs.
Total nonfarm payroll employment fell by 533,000 in November, bringing
losses to 1. 9 million since the start of the recession in December 2007.
Two-thirds of these losses occurred in the last 3 months. In November,
employment declined in nearly all major industries, although health care
continued to add jobs.
In November, employment continued to decline in manufacturing (-85,000),
with widespread job losses occurring among the component industries. Manufacturing
employment has declined by 604,000 since December. Within durable goods
manufacturing, job losses occurred in November in fabricated metal products
(-15,000), machinery (-11,000), wood products (-9,000), furniture and related
products (-7,000), primary metals (-7,000), and computer and electronic
products (-7,000). Employment in transportation equipment edged up, as
a return of 27,000 aerospace workers from strike more than offset a job
loss in motor vehicle and parts (-13,000). In the nondurable goods component,
job losses occurred in plastics and rubber products (-12,000), printing
and related support activities (-5,000), and textile mills (-5,000).
Employment in construction fell by 82,000 in November, with losses occurring throughout the industry. Since peaking in September 2006, construction employment has decreased by 780,000. Specialty trade contractors lost 50,000 jobs in November, with both residential and nonresidential components contributing to the decline.
Within professional and business services, the employment services
industry lost 101,000 jobs over the month, bringing total job losses
since December to 495,000. In November, employment fell by 10,000 in
architectural and engineering services.
Employment in retail trade fell by 91,000 in November. Job losses
continued in automobile dealerships (-24,000). Employment in the indus-
try has fallen by 115,000 since December, with much of the decrease oc-
curring over the last 2 months. In several other retail industries, sea-
sonal hiring for the holidays fell short of normal in November. After
seasonal adjustment, employment declined in clothing and accessories
stores (-18,000); sporting goods, hobby, book, and music stores (-11,000); and furniture and home furnishing stores (-10,000). Wholesale trade employment was down by 25,000 over the month, with most of the decrease among durable goods wholesalers.
Employment in leisure and hospitality declined by 76,000 in November,
with most of the decline occurring in accommodation and food services
(-54,000). Since peaking in April 2008, accommodation and food services
has lost 150,000 jobs.
In November, employment in financial activities continued to decline
(-32,000). Within the industry, job losses occurred in credit intermedi-
ation and related activities (-16,000) and in rental and leasing services
(-9,000). Job losses in financial activities have accelerated over the
last 3 months, bringing the total decline since December to 142,000.
Elsewhere in the service-providing sector, employment in transporta-
tion and warehousing declined by 32,000 in November, with most of the
losses in truck transportation (-12,000) and couriers and messengers
(-8,000). The information industry lost 19,000 jobs over the month.
Health care employment grew by 34,000 in November. Over the past 12
months, health care has added 369,000 jobs.
The change in total nonfarm employment for September was revised from
-284,000 to -403,000, and the change for October was revised from -240,000 to -320,000. In both months, there were large revisions in most of the major industry sectors. These revisions resulted primarily because of the normal monthly recalculation of seasonal factors rather than the incorporation of additional sample reports.
Source: U.S. Department of Labor