Overview
- The unemployment rate rose to 4.6% in November, the highest since 2021, as nonfarm payrolls increased by 64,000.
- Average hourly earnings advanced just 0.1% on the month and 3.5% over the year, marking a clear deceleration in wage growth.
- The number of Americans unemployed for six months or more climbed to 1.9 million, and those working part-time while seeking full-time roles increased by 909,000 since September.
- Hiring was concentrated in health care (+46,000) and construction (+28,000), while manufacturing, transportation and logistics reported job losses.
- Reports cite sizable federal workforce reductions tied to DOGE reforms, with figures differing across outlets, including 168,000 departures since September, 105,000 in October, and 271,000 since January.