by Bill McBride on 12/04/2015 08:34:00 AM
Friday, December 04, 2015
From the BLS:
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.Click on graph for larger image.
The change in total nonfarm payroll employment for September was revised from +137,000 to +145,000, and the change from October was revised from +271,000 to +298,000. With these revisions, employment gains in September and October combined were 35,000 more than previously reported.
In November, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $25.25, following a 9-cent gain in October. Over the year, average hourly earnings have risen by 2.3 percent.
The first graph shows the monthly change in payroll jobs, ex-Census (meaning the impact of the decennial Census temporary hires and layoffs is removed - mostly in 2010 - to show the underlying payroll changes).
Total payrolls increased by 211 thousand in November (private payrolls increased 197 thousand).
Payrolls for September and October were revised up by a combined 35 thousand.
This graph shows the year-over-year change in total non-farm employment since 1968.
In November, the year-over-year change was 2.64 million jobs.
That is a solid year-over-year gain.
The third graph shows the employment population ratio and the participation rate.
The Labor Force Participation Rate increased in November to 62,5%. This is the percentage of the working age population in the labor force. A large portion of the recent decline in the participation rate is due to demographics.
The Employment-Population ratio was unchanged at 59.3% (black line).
I'll post the 25 to 54 age group employment-population ratio graph later.
The fourth graph shows the unemployment rate.
The unemployment rate was unchanged in November at 5.0%.
This was above expectations of 190,000 jobs, and revisions were up ... a solid report.
I'll have much more later ...
Posted by Bill McBride on 12/04/2015 08:34:00 AM