"This week brought a vanishingly rare jobs report on Tuesday after the longest government shutdown in history threw a wrench in federal data collection, and it was a mixed bag. The new data emphasized trends we've been seeing this year, including unemployment inching up and a tougher market for manyjob seekers. The Bureau of Labor Statistics delayed the report from December 5 to extend data collection and processing after its activities were affected by the government shutdown that lasted from October to about mid-November."
"The US economy added 64,000 jobs in November, surpassing the 50,000 expected. That comes after a big net loss in October, largely because federal workers who took the deferred resignation offered as part of the DOGE job cuts earlier this year finally appeared in the data after the deferment ended. Data published by the BLS last week showed job openings have been trending upward as of October, although they're still far below what job seekers were accustomed to a few years ago. Workers' confidence has also been low, as October's quit rate was the lowest since 2020."
The Bureau of Labor Statistics released the final national employment report for the year after delaying it to extend data collection following the longest government shutdown, which affected federal data activities. Economists described the job market as stagnant. Unemployment was above 4.5%, wage growth moderated, and job growth remained unequal across industries. The U.S. economy added 64,000 jobs in November following a large net loss in October tied to deferred federal resignations appearing in the data. Job openings trended upward as of October but stayed well below recent peak levels, and the October quit rate fell to its lowest since 2020.
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