Data shows the headline unemployment rate continued to climb and hit 4.6%, a four-year high, last month

Data shows the headline unemployment rate continued to climb and hit 4.6%, a four-year high, last month

The US labor market grew by more than expected last month, recovering some of the damage inflicted by the federal government shutdown, according to official data.

An estimated 105,000 jobs were lost in October, and 64,000 were added in November, a highly-anticipated report showed on Tuesday.

Jobs growth was higher in November than anticipated by many economists, with a consensus forecast of some 40,000 jobs added. But the headline unemployment rate continued to climb – and hit 4.6%, a four-year high, last month.

The latest jobs numbers, typically released monthly, were delayed due to the government shutdown. They land amid significant uncertainty surrounding the strength of the US economy.

  • benignintervention@piefed.socialEnglish
    1·
    2 months ago

    Here, I found the video

    It’s youtube because I couldn’t find it anywhere else. But I think it addresses some of your points. The biggest point it makes is that at the same time that the greater economy lost 3 million jobs (or had that many layoffs), the gig economy gained roughly the same number of people.