The Bureau of Labor Statistics first thing today released their November jobs report, and far fewer jobs were added for the month in this COVID19 pandemic, only 245,000 jobs were gained, 391,000 fewer jobs than October when 636,000 jobs were added, the nation’s unemployment rate didn’t go down too much either as it fell by only 0.2 percent to 6.7 percent, October saw a 1 precent drop to 6.9 percent.
In the midst of rising COVID19 cases, reversed reopening phases leading to business shutdowns and pivoting again to virtual, only growth came in transportation and warehousing, professional and business services, and health care, decline caused by pandemic numbers not seen in months or high it’s ever been in some cases were in government and retail.
The news of vaccines coming to fruition has been extremely rose and it’s shown in the stock market, plus life has gotten a little bit back to normal in New York City as Daniel plus Lauren captured Thursday night, but deaths and cases are still rising and non-essential businesses continue to pay the price, though weekly unemployment numbers are at their lowest during COVID19, the low figure of 712,000 that came out Thursday is still a grave number to report.
Daniel Quintanilla
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[…] Even though still on the lowest end of the spectrum than it’s ever been here in the pandemic, the insured unemployment rate saw a small increase of 0.1 percent to land at 3.9 percent with no revisions from prior week needed, the actual number on insured unemployment increased by 230,000 to rise to 5,757,000, with last week’s figure revised by 7,000 from 5,520,000 to 5,527,000, and this week’s unemployment report on par with the rate of November job growth. […]
[…] nation’s unemployment rate stayed unchanged from November at 6.7 percent, same went for the figure of those unemployed at 10.7 million, this week’s […]