Leave a Reply
You must be logged in to view and post comments.
Job growth slowed in November, a sign that the worsening pandemic is weighing on the recovery. Nonfarm payroll job growth slowed to 245,000 in November from 610,000 in October (revised down from 638,000), 711,000 in September (revised up from 672,000), and 1.5 million in August. November’s job growth undershot the consensus forecast of 485,000. Government employment fell 99,000 in the month, largely due to the end of temporary jobs for census workers. With consumers spending more online and less at brick-and-mortar stores, retailers hired fewer workers than usual in the pre-holiday rush: They added 302,000 jobs in not-seasonally-adjusted terms in November. Since this is less than in a typical holiday season, it translated into a 35,000 seasonally-adjusted decline.
