The Lackluster November Jobs Report May Be Good News As It Serves To Push For Another Round Of Stimulus

  • Employment in transportation and warehousing rose by 145,000 in November, but is 123,000 below its February level.
  • In November, employment rose by 82,000 in couriers and messengers and by 37,000 in warehousing and storage; since February, employment in these industries has increased by 182,000 and 97,000, respectively. Job growth also occurred over the month in truck transportation (+13,000).
  • In November, employment in professional and business services increased by 60,000, with about half the gain occurring in temporary help services (+32,000). Job growth also occurred in services to buildings and dwellings (+14,000). Employment in professional and business services is down by 1.1 million since February.
  • Healthcare added 46,000 jobs in November, with gains occurring in offices of physicians (+21,000), home health care services (+13,000) and offices of other health practitioners (+8,000). Nursing care facilities continued to lose jobs (-12,000). Healthcare employment is 527,000 lower than in February.
  • Construction gained 27,000 jobs in November, but employment is 279,000 below its February level. In November, employment rose in residential specialty trade contractors (+14,000) and in heavy and civil engineering construction (+10,000).
  • In November, manufacturing employment increased by 27,000. Job gains occurred in motor vehicles and parts (+15,000) and in plastics and rubber products (+5,000). Employment in manufacturing was 599,000 lower than in February.
  • Financial activities added 15,000 jobs in November. Gains occurred in real estate (+10,000) and in nondepository credit intermediation (+8,000). Financial activities has added 164,000 jobs over the past 7 months, but employment in the industry is 115,000 lower than in February.
  • Government employment declined for the third consecutive month, decreasing by 99,000 in November. A decline of 86,000 in federal government employment reflected the loss of 93,000 temporary workers who had been hired for the 2020 Census. Employment in local government education continued to trend down (-21,000).
  • In November, retail trade lost 35,000 jobs, reflecting less seasonal hiring in several retail industries. Employment decreases occurred in general merchandise stores (-21,000); sporting goods, hobby, book, and music stores (-12,000); electronics and appliance stores (-11,000) and health and personal care stores (-8,000). By contrast, furniture and home furnishings stores and automobile dealers added 6,000 jobs and 4,000 jobs, respectively. Employment in retail trade is 550,000 lower than in February.
  • Employment in leisure and hospitality changed little in November (+31,000), but is down by 3.4 million since February. Arts, entertainment and recreation added 43,000 jobs in November, while employment in food services and drinking places changed little (-17,000).
  • The unemployment rate for adult women (6.1%) declined in November. The jobless rates for adult men (6.7%), teenagers (14%), whites (5.9%), Blacks (10.3%), Asians (6.7%) and Hispanics (8.4%) showed little or no change.

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