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Economic Data (USA)

Friday, December 04, 2015

Employment Situation Report for November 2015

The Employment Situation Report for November 2015 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Predicted: +190,000
Actual: +211,000

Unemployment Rate
Predicted: 5.0%
Actual: 5.0%

Average Hourly Earnings (month-to-month change)
Predicted: +0.2%
Actual: +0.2%

Civilian Labor Force Participation Rate: 62.5%
Previous Month: 62.4%

Average Workweek
Predicted: 34.5 hrs
Actual: 34.5 hrs

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

From today's report:

"...Total nonfarm payroll employment rose by 211,000 in November, about in line with the average monthly gain of 237,000 over the prior 12 months. In November, job growth occurred in construction, professional and technical services, and health care. Employment in mining and information declined over the month...The change in total nonfarm payroll employment for September was revised from +137,000 to +145,000, and the change from October was revised from +271,000 to +298,000. With these revisions, employment gains in September and October combined were 35,000 more than previously reported. Over the past 3 months, job gains have averaged 218,000 per month [Establishment Survey Data]..."

"...the number of unemployed persons, at 7.9 million, was essentially unchanged...The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.1 million in November and has shown little movement since June. In November, these individuals accounted for 25.7% of the unemployed...The employment-population ratio was unchanged at 59.3% and has shown little movement since October 2014...there were 594,000 discouraged workers in November, little changed from a year earlier [Household Survey Data]..."

Click here to view the full Department of Labor report

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