Courtesy of Mish.
Initial Reaction
Following last month’s payroll surge comes a second strong month. The Bloomberg Consensus estimate was 190,000 jobs and the headline total was 211,000. The unemployment rate was steady to 5.0%, the lowest since April 2008. A rate hike in December is now assured.
BLS Jobs Statistics at a Glance
- Nonfarm Payroll: +211,000 – Establishment Survey
- Employment: +244,000 – Household Survey
- Unemployment: +29,000 – Household Survey
- Involuntary Part-Time Work: +319,000 – Household Survey
- Voluntary Part-Time Work: -12,000 – Household Survey
- Baseline Unemployment Rate: +0.0 at 5.0% – Household Survey
- U-6 unemployment: +0.1 to 9.9% – Household Survey
- Civilian Non-institutional Population: +206,000
- Civilian Labor Force: +273,000 – Household Survey
- Not in Labor Force: -97,000 – Household Survey
- Participation Rate: Unchanged at 62.4 – Household Survey (a 40-year low)
Employment Report
Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.
Total nonfarm payroll employment increased by 211,000 in November, and the unemployment rate was unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in construction, professional and technical services, and health care. Mining and information lost jobs.
Unemployment Rate – Seasonally Adjusted
Nonfarm Employment
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