The U.S. added a solid 199,000 nonfarm payroll jobs in November, but the composition of those newly added jobs was dominated by three sectors and boosted by government funding, according to the Bureau of Labor Statistics (BLS).
The majority of jobs added in November were from the government, health care or leisure and hospitality sectors, adding 77,000, 49,000 and 40,000 jobs, respectively, according to the BLS. Part of the remaining gain came from the manufacturing sector, which added 28,000 jobs but was boosted by 30,000 unionized autoworkers returning from a strike, meaning the sector actually lost 2,000 jobs. (RELATED: Here’s How Much Americans’ Home Payments Have Increased Under Biden)
“There are essentially two economies right now — the private sector economy and the government economy.” Michael Faulkender, chief economist and senior advisor for the Center for…
