Unemployment rate scoots down 4%
Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate edged down to 3.7%, the U.S. Bureau of Labor Statistics reported.
Job gains occurred in health care and government. Employment also increased in manufacturing, reflecting the return of workers from a strike. Employment in retail trade declined.
Employment in manufacturing rose by 28,000 in November, reflecting an increase of 30,000 in motor vehicles and parts as workers returned from a strike. Employment in manufacturing has shown little net change over the year.
Employment in transportation and warehousing changed little in November (-5,000). A job loss in warehousing and storage (-8,000) was partially offset by a gain in air transportation
(+4,000). Employment in transportation and warehousing has declined by 61,000 since a peak in October 2022.
The number of unemployed persons showed little change at 6.3 million.
Among the major worker groups, the unemployment rate for teenagers (11.4%) edged down
in November. The jobless rates for adult men (3.7%), adult women (3.1%), Whites
(3.3%), Blacks (5.8%), Asians (3.5%), and Hispanics (4.6%) showed
little or no change over the month.
In November, the number of long-term unemployed (those jobless for 27 weeks or more) edged down to 1.2 million. These individuals accounted for 18.3% of all unemployed persons.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
