Both the nation’s unemployment rate and number of unemployed inched up in November, the U.S. Bureau of Labor Statistics (BLS) reported Friday.
At 4.2%, the seasonally-adjusted unemployment rate for November was higher than both October’s rate of 4.1% and the 3.5% mark recorded in November of 2023. Likewise, the number of unemployed persons increased to 7.1 million, up from 7.0 million in October and 6.0 million a year earlier.
Total nonfarm payroll employment rose by 227,000 over the month, rebounding from October’s mere 36,000 increase and surpassing the 200,000 benchmark considered “normal.”
The unemployment rate for Blacks jumped to 6.4% in November, up from 5.7% the previous month and 5.5% year-ago, while the rates for other major demographic groups remained stable.
At 1.7 million, the number of long-term unemployed (those jobless for 27 weeks or more) was up from 1.6 million in October and 1.2 million year-ago. In November, the long-term unemployed accounted for nearly a quarter (23.2%) of all those unemployed.
Retail trade lost 28,000 jobs over the month, while health care jobs continued to lead the growth in other major industry sectors:
- Health Care: +54,000
- Leisure and Hospitality: +53,000
- Government: +33,000
- Social Assistance: +19,000
Transportation equipment manufacturing employment added 32,000 jobs in November, reflecting the return of workers who were on strike. General merchandise retailers (-15,000) accounted for more than half the 28,000 retail jobs lost in November.