Businesses add 21,000 jobs in November, hiring stalls
In November, job growth stalled with employers adding a disappointing 210,000 jobs, the Labor Department said. This represents a sharp slowdown from October when companies added more than twice that number of new hires. Economists had forecast that employers had hired around 535,000 workers last month. As more Americans return to work, the Labor Department says that the unemployment rate fell from 4.6% to 4.2%.
The labor participation rate has edged up to 61.8% which is the most since 2020 when the pandemic started. Millions of Americans have been slow to return to the job market, with nearly 4.7 million fewer people in the labor force than prior to the pandemic. Employers are raising wages to attract more candidates, but still, some workers are hesitant to return to work due to the high number of covid 19 cases in the country.
Daniel Zhao, senior economist at an employment site says, "Even though Delta is off its September peak, cases are still very high, and that might have impacted COVID-sensitive industries like retail and hospitality." The surveys for the November job report were taken before the reports of the Omicron virus surfaced in Africa. But the new strain of covid 19 has the potential to create headwinds for the job market in December and later.
Source: CBS News
Category
Disability Accomodations
Communication
Gender Identity
Leadership &
Salary Surveys
Employee Handbooks
Pay Equity
Campus Placement
Inclusion, Equity & Diversity
Hiring & Firing
Promotion
Learning & Development
Employee Surveys
Ethical Practice
Employment Contracts
Benefits Reporting & Disclosure
Benefits
Organizational &
Dependent Benefits
Policies & Practices
Communicable Diseases
Unemployment Benefits
Affirmative Action
Ethnicity
Disability Benefits
Raise
Employee Relations
Relationship Management
Mental Health Benefits
Workplace Wellness
Investigations
Labor Relations
Remote & Hybrid Work
Parental Leave
Time Worked
Bonuses & Incentives
Employment Offers
Open Enrollment
People Management
Business Continuity
Career Development
Employment Law & Compliance
Vendors & Software
Overtime Pay
Records & Reports
Background Checks
Workplace Security
Employee Data Privacy
Teamwork
Talent Acquisition
Tags
Article
How to Avoid Burnout in 2022
Whatever your work setting may be, it’s important to stay productive while you don’t burn out. Here ...
Don’t Fall Prey to These Job Scams
When people are looking frantically for employment, scammers get a chance to exploit their weakness ...
A Guide for HR Professionals to Ensure Diversity and Inclusivity at Workplace
One of the key responsibilities of HR teams is to ensure a diverse workplace and manage it effectiv ...
With Remote Working Being the New Norm, How to Hire the Best remote Workers
Before the advent of the COVID-19 pandemic, about 7 million people in the US alone were working rem ...
Comments