227,000 jobs were added to the economy in November. (iStock )
November saw a higher rise in job numbers than originally expected. Nonfarm payroll employment rose by 227,000, while the unemployment rate bumped up slightly to 4.2%, the U.S. Bureau of Labor Statistics reported. Health care, hospitality and government industries largely led the drive in job growth.
“Although payroll employment rebounded in November with a gain of 227,000 jobs, and the prior months were revised upwards by a cumulative 56,000 jobs, the report overall shows more softening in the labor market,” Mike Fratantoni, MBA senior vice president and chief economist, said in response to the latest report.
“The household survey again showed a large drop in employment, and more households reported spells of long-term unemployment,” Fratantoni said.
The job growth numbers are strong, but with unemployment…
