The national unemployment rate declined from 3.9% October to 3.7% in November, according to the monthly unemployment report from the Bureau of Labor Statistics. 

The unemployment rate was affected by about 30,000 striking auto workers in October that returned to work in November, the BLS noted.

November’s unemployment rate is “not far above a five-decade low of 3.4% in April,” the Associated Press reported. “The jobless rate has now remained below 4% for nearly two years, the longest such streak since the late 1960s.”

According to the BLS, in November, the number of long-term unemployed — those jobless for 27 weeks or more— decreased to 1.2 million. Long-term unemployed individuals accounted for 18.3% of all unemployed persons last month.

Job gains

Additionally, the economy added 199,000 new jobs in November, with gains in healthcare, government and manufacturing.

Healthcare added 77,000 jobs, which the BLS noted is above the average monthly gain of 54,000 over the prior 12 months. Nursing homes and residential care facilities added 17,000 jobs, ambulatory healthcare services gained 36,000 jobs and hospitals gained 24,000 jobs last month.

“The November jobs report came in above expectations, with economists projecting the US would add 180,000 jobs and the jobless rate would hold steady at 3.9%,” The Hill reported. 

Government employment increased by 49,000 in November, in line with the average monthly gain of 55,000 jobs over the previous 12 months. Local governments added 32,000 jobs, and state governments added 17,000 jobs over the month.

Employment in manufacturing rose by 28,000 in November. According to the BLS, employment in manufacturing has shown little net change over the year.

The only sector to see a decline in jobs last month was retail. Retail employment declined by 38,000 jobs in November. The sector has experienced little net change over the past year, according to the BLS.

“Despite widespread predictions last year that the US economy would soon tip into a recession, it has remained surprisingly resilient,” according to The Hill. “The economy has grown at an annualized rate of at least 2% every quarter for the last five quarters, and unemployment has remained below 4% despite rising interest rates.”

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