U.S. Non-Farm Payroll Data Released

The U.S. Bureau of Labor Statistics reported that non-farm employment increased by 227,000 in November, while the unemployment rate remained steady at 4.2%. Employment rose in sectors such as healthcare, leisure and hospitality, government, and social assistance, while the retail trade sector saw job losses.

The increase in U.S. non-farm employment was above expectations of 202,000, and the unemployment rate was reported at 4.2%, in line with forecasts, with the number of unemployed individuals reported at 7.1 million. These figures indicate higher levels compared to the same period last year. The number of long-term unemployed increased to 1.7 million compared to a year ago, making up 23.2% of the total unemployed.

Last month's employment data was revised upward. According to the Workplace Survey data, non-farm employment in November rose by 227,000 following a slight increase of 36,000 the previous month. This increase included 54,000 in healthcare, 53,000 in leisure and hospitality, 33,000 in government, and 19,000 in social assistance. Notably, there was an increase of 32,000 due to the return of striking workers in transportation equipment manufacturing. The retail trade sector experienced a loss of 28,000 jobs in November, primarily concentrated in general merchandise retailers. Thus, last month's employment data was revised from 12,000 to 36,000.

In November, private sector non-farm payrolls saw hourly earnings rise by an average of 13 cents to reach $35.61, and the average work week increased slightly to 34.3 hours. These indicators are considered signs of overall economic recovery.