Hiring was a bust in November, even before omicron, with 210,000 jobs added

12/3/21
 
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from CNBC,
12/3/21:

The U.S. economy created far fewer jobs than expected in November, in a sign that hiring started to slow even ahead of the new Covid threat, the Labor Department reported Friday.

  • Nonfarm payrolls increased by 210,000 in November, following a gain of 546,000 the previous month.
  • The number was well below Wall Street expectations of 573,000.
  • Despite the big hiring miss, the unemployment rate fell to 4.2%, a 0.4% percentage point decline that came even with rising labor force participation.
  • Professional and business services and transportation and warehousing led gains, while hiring in leisure and hospitality was sluggish and retail lost jobs despite the traditional holiday hiring season.

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