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November U.S. Jobs Report: 199,000 Rise in Payrolls, Stronger Than Expected

Unemployment rate falls to 3.7%.

Federal reserve inflation artwork

The U.S. economy added 199,000 jobs in November, according to the latest report from the Bureau of Labor Statistics.

The government’s report revised down previous estimates for new job creation in September.

The unemployment rate fell to 3.7% in November from 3.9% in October.

Nonfarm payroll employment had been forecast to rise by 172,500 in November, and the unemployment rate was expected to remain at 3.9%, according to FactSet’s consensus estimates.

November Jobs Report Key Stats

  • Total nonfarm payrolls increased by 199,000 versus 150,000 in October.
  • The unemployment rate dropped to 3.7% from 3.9% in October.
  • Average hourly wages grew by 0.4% to $34.10 after rising 0.2% in October.

In November, average hourly wages climbed by 12 cents, or 0.4%, to $34.10. Over the past 12 months, average hourly earnings have risen by 4.0%.

The average workweek for all employees on private nonfarm payrolls climbed to 34.4 hours in November, up from 34.3 in October. For manufacturing employees, the average workweek dropped to 40.1 hours in November, and overtime was unchanged at 3.0 hours. For production and nonsupervisory employees, the average workweek was reduced to 33.8 hours from 34.1 the prior month.

Unemployment Rate

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