The US created 199,000 jobs in November and lowered the unemployment rate to 3.7%

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The US economy accelerated the pace of new non-agricultural job creation to a total of 199,000 new jobs, compared to 150,000 in the previous month, allowing the unemployment rate to decrease to two-tenths, up to 3.7%, according to published data. this Friday at the Department of Labor.

Thus, the US labor market continues to show no signs of weakness and has generated 35 consecutive months of job creation, despite the fact that the pace of new hiring in November slowed from an average of 240,000 new jobs over the previous twelve months.

In this sense, the Labor Department revised down the figure for last September, when 262,000 jobs were created, and not the 297,000 that was first announced, while it maintained the figure for October at 150,000. new jobs.

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With these changes, employment in September and October combined was 35,000 less than previously reported.

In November, employment gains occurred in areas such as health care and government, as well as an increase in the manufacturing sector, reflecting the return of striking workers, while employment in retail trade declined. .

By sector, healthcare added 77,000 jobs, above the average monthly increase of 54,000 over the past 12 months, while public employment increased by 49,000 people in November, in line with the average monthly increase of 55,000 over the past 12 months. months.

Employment in the manufacturing sector increased by 28,000 people in November, while in the leisure and hospitality sector it grew by 40,000 people, compared to an average increase of 51,000 last year.

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Likewise, retail employment fell by 38,000 people in November, showing little net change over the year.

The unemployment rate is low.

In addition to a somewhat stronger pace of job creation than the market expected, the unemployment rate stood at 3.7% in November, compared to 3.9% registered in October.

In November, the number of long-term unemployed (those without work for 27 weeks or more) fell to 1.2 million and accounted for 18.3% of all unemployed.

The labor force participation rate was little changed and stood at 62.8%, where it has remained stable since August.

In November, the number of people working part-time due to economic reasons decreased by 295,000 to 4 million individuals, while the number of people not in the labor force but currently looking for work was 5.3 million.

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