US Economy Adds 228,000 Jobs In November

Actuary.com

So far this year, employment growth has averaged 174,000 jobs a month, a slight drop from 2016’s monthly average of 187,000 jobs.

The U.S. economy added 228,000 jobs in November, according to preliminary numbers reported by the U.S. Bureau of Labor Statistics Economic Situation report released on Friday, December 8, 2017.

“November’s job growth was comparable to October’s, adding only 16,000 fewer jobs,” said Jay Rollins, owner of Actuary.com, a leading career website specializing in actuary job postings. “So far this year, employment growth has averaged 174,000 jobs a month, a slight drop from 2016’s monthly average of 187,000 jobs.”

Unemployment held at 4.1 percent in November, while the number of unemployed persons remained unchanged at 6.6 million. Since the beginning of the year, unemployment has dropped by 0.5 percentage point and 799,000 persons.

Employment grew in professional and business services (+46,000), manufacturing (+31,000), health care (+30,000), and construction (+23,000). Employment changed little in other major industries including mining, wholesale trade, retail trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government.

Total nonfarm payroll employment was revised for earlier months, jumping from 18,000 to 38,000 in September, and dropping from 261,000 and 244,000 jobs in October. When combined, these revisions account for 3,000 more jobs than previously reported. After revisions, job gains have averaged 170,000 jobs over the last three months.

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