November Jobs Report: Unemployment Rate Holds Steady

by Katie Brock on December 8, 2017

national jobs reportThe unemployment rate remains at 4.1 percent in November, unchanged from October.  A total of 228,000 jobs were created during the month, surpassing the projected 195,000 new jobs economists surveyed by the Wall Street Journal had expected.

Unemployment Rate Remains at 17-Year Low

4.1 percent marks the lowest the unemployment rate has reached since 2000, according to The New York Times. The rate has decreased 0.5 percent over the past year, reducing the number of unemployed by 799,000. The average number of jobs created averaged 170,000 per month over the past three months.

Wages See Growth

In November average hourly earnings for all employees on private nonfarm payrolls rose 5 cents to $26.55. Over the past year, average hourly earnings have risen 64 cents or 2.5 percent.

Promising Growth for Tech Jobs

46,000 jobs were added to the professional and business services sector in November, with 23,500 of those jobs are credited to professional and technical services.

The specific areas seeing the most growth in the professional and technical services sector include:

  • Management and technical consulting services (+7,200 jobs in November 2017)
  • Accounting and bookkeeping services (+4,000 in November 2017)
  • Other professional and technical services (+3,800 jobs in November 2017)

In November the unemployment rate for professional and technical services dropped to 2.7 percent.

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