Skip nav to main content.

A Strong Jobs Report, Just in Time for the Holidays

The economy added 228,000 jobs in November and the unemployment rate was unchanged at 4.1…

  • December 24, 2017

The economy added 228,000 jobs in November and the unemployment rate was unchanged at 4.1 percent, according to the U.S. Bureau of Labor Statistics.

BLS said the number of unemployed persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate and the number of unemployed persons were down by 0.5 percentage point and 799,000, respectively.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.6 million in November and accounted for 23.8 percent of the unemployed.

Over the year, the number of long-term unemployed was down by 275,000.

The labor force participation rate remained at 62.7 percent in November and has shown no clear trend over the past 12 months. The employment-population ratio, at 60.1 percent, changed little in November and has shown little movement, on net, since early this year.

Employment continued to trend up in professional and business services, manufacturing, and health care.

Employment growth has averaged 174,000 per month thus far this year, compared with an average monthly gain of 187,000 in 2016.

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $26.55. Over the year, average hourly earnings have risen by 64 cents, or 2.5 percent. Average hourly earnings of private-sector production and nonsupervisory employees rose by 5 cents to $22.24 in November.

The change in total nonfarm payroll employment for September was revised up from +18,000 to +38,000, and the change for October was revised down from +261,000 to +244,000.

With these revisions, employment gains in September and October combined were 3,000 more than previously reported.

Leave a Comment