November 2021 Jobs Report: Unemployment Lowers, While Job Growth Registers Its Smallest Gain This Year
The past month’s jobs report from the U.S. Bureau of Labor Statistics offers a mixed picture of how well the economy and jobs market in the U.S. are actually doing. While the number of payrolls added to the jobs market registered its smallest gain this year – just 210,000 after 546,000 in October – the unemployment rate dropped more than anticipated to 4.2% from 4.6% last month.
Economists predicted November’s report would show a more than doubled payrolls gain and for the jobless rate to fall less than it did, but as proven, the economy is taking a unique route in its recovery from the initial impact of the pandemic in 2020.
Professional and business services, transportation, warehousing showed gains in hiring, while retail surprisingly lost jobs during the start of the typical holiday hiring season.
The jobs report may fluctuate every month, but our goal is simple: to connect the best people with the best companies. As a leading professional services firm specializing in consulting, staffing and recruiting, and executive search, Addison Group delivers the expertise and talent companies need to achieve and sustain business growth. Looking to fill roles at your company, or to land your next career move? Reach out today.