Employment for November Beats Predictions
The BLS number was more robust than the 110,000 added
jobs that economists predicted, according to Reuters. The
unemployment rate was nearly stagnant at 4.5%, up slightly
from the 4.4% rate in October (See
Job Growth Nearly Stagnant, Unemployment
Drops
).
Professional and business services employment increased by
43,000 during the month, rising by 426,000 over the year.
Employment in temporary help services was flat over the
month and has wavered little since January.
Health care employment climbed by 28,000 jobs, with
hospitals and doctors’ offices each adding 6,000
jobs. Over the year, health care employment has
increased by 309,000.
Employment continued its upward climb in food services and
drinking places, adding 34,000 jobs in November and
bringing the total job gains over the last 12 months to
295,000.
Employment in wholesale trade continued to trend up for the
month, rising by 288,000 since its most recent low in
August 2003. Retail trade also added jobs in clothing and
accessory stores; health and personal care stores; sporting
goods, hobby, book, and music stores; and non-store
retailers (which include catalog and Internet retailers).
General merchandise stores continued to lose jobs, and were
down 12,000 since August 2005.
Mining employment grew by 4,000 in November, with gains in
support activities for oil and gas. Employment in
this industry has grown by 136,000 since its most recent
low in April 2003.
Construction employment declined by 29,000 in November,
following a loss of a similar size in October, with the
decline spanning all of the component industries.