U.S. jobs growth modestly surpassed expectations in November, even as unemployment climbed to a four-year high and October’s figures showed a pronounced downturn, according to data released Tuesday by the Bureau of Labor Statistics following a delay stemming from the recent government shutdown.
Nonfarm payrolls recorded a seasonally adjusted gain of 64,000 positions for November, outpacing the Dow Jones consensus forecast of 45,000. This contrasted with October’s revised figures, which revealed a loss of 105,000 jobs—reflecting a marked shift after September’s surprising gain.
Healthcare remained the chief contributor to employment growth, generating 46,000 new positions and representing over 70% of the overall increase for the month. Construction employment also expanded by 28,000, while social assistance roles rose by 18,000.
However, other sectors fared less well. Jobs in transportation and warehousing continued to decline, falling by 18,000, while leisure and hospitality employers cut 12,000 positions in November.
The unemployment rate rose to 4.6% in November, exceeding projections and reaching its highest level since September 2021. A broader measure of unemployment, which captures discouraged workers and individuals employed part-time for economic reasons, hit 8.7%—marking its highest since August 2021.
The October setback largely resulted from a steep contraction in government employment, as previously postponed layoffs were implemented. Government payrolls fell by 162,000 in October, and the sector shed an additional 6,000 jobs in November.
Economic bears are likely to underline the rise in unemployment and the sharp payroll losses seen in October, while those optimistic about U.S. growth may highlight November’s stronger-than-anticipated job creation.
