The US economy managed to add just 64,000 jobs in November. Meanwhile, the unemployment rate edged up to 4.6 percent—the highest since September 2021—according to delayed data from the Labor Department.
Americans already anxious about layoffs and a stubbornly sluggish job market now have fresh numbers to ponder over their holiday eggnog. With hiring barely keeping pace and more people stuck in part-time roles they’d rather escape, the mood among job seekers remains as frosty as a December morning.
Wage growth has slowed, adding to the squeeze on household budgets already stretched by lingering high prices. Economists note this softness could influence everything from consumer spending to the Federal Reserve’s next moves on interest rates.
The report, finally released on a Tuesday instead of the usual first-Friday fanfare, arrived late courtesy of a 43-day government shutdown that turned economic data releases into a game of catch-up.
November’s modest 64,000 job gains beat low expectations but highlighted how little net progress the economy has made since spring.
Healthcare led the pack once again, adding around 46,000 positions—proving that even in tough times, someone still needs to take your blood pressure.
Construction chipped in solidly, while the federal government continued shedding jobs, down another 6,000 in November after a steep October drop.
October’s partial data showed a 105,000 job loss, largely tied to federal workforce reductions from deferred resignations encouraged earlier in the year.
The unemployment rate’s climb to 4.6 percent came partly from labor force growth and shutdown-related distortions, though the broader underemployment measure swelled noticeably.
Part-time workers for economic reasons jumped to 5.5 million, up sharply—many no doubt wishing for full-time hours to match their full-time ambitions.
Long-term unemployment held steady at about 24.3 percent of the jobless, a reminder that some searches drag on longer than a bad blind date.
Heather Long, a chief economist, described the situation bluntly as a “hiring recession,” with almost no net jobs added since April and wages cooling off.
Another expert pointed to the shutdown’s role in bumping the rate higher, alongside fewer permanent job losers but more people entering the workforce.
The federal sector’s ongoing trim—162,000 jobs gone in October alone—stemmed from efficiency drives that left many former bureaucrats updating their résumés.
Previous months had seen revisions painting a similar picture: occasional upticks masking underlying stagnation.
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