Washington: The US economy added 64,000 jobs in November, surpassing market expectations, according to data from the Labor Department released on Tuesday. The market expectation for nonfarm payrolls last month was set to show a gain of 50,000.
According to Anadolu Agency, the November job growth followed October's 105,000 job loss, a figure that was not released on time due to the federal government shutdown. Employment increased in sectors such as health care and construction, while the federal government experienced continued job losses.
The unemployment rate in November rose to 4.6%, up from 4.4% in September, exceeding forecasts. The number of unemployed individuals remained relatively unchanged at 7.8 million, with the labor force participation rate at 62.5%.
In the same month, the employment-to-population ratio held steady at 59.6%, as reported by the Labor Department. The number of people not in the labor force but desiring employment remained little changed at 6.1 million. These individuals were not classified as unemployed because they had not actively searched for work in the four weeks preceding the survey or were unavailable to accept a job.
Additionally, the average hourly earnings for all employees on non-farm payrolls rose by 0.1% to $36.86 in November compared to September, marking a 3.5% increase on an annual basis.