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
Executive Compensation
Open Enrollment
Inclusion, Equity & Diversity
Substance Abuse
Workplace Security
Workforce Planning
Wellness Benefits
Educational Assistance
Intellectual Property
Sexualy Harassment
Compensation & Benefits
Overtime Eligibility &
Discrimination
Inclusion, Equity &
Disability Accomodations
Employment Branding
Performance Management
Employment Law & Compliance
Gender Identity
Workplace Culture
Health Care Benefits
Hiring
Benefits
Pay Equity
Work Life Integration
Whistleblowing
Onboarding
Contracts & RFPs
Electronic Records Management
Employee Relations
Termination
Policies & Practices
Religious Accomodations
Social Media
Opening & Closing
Environmental Health Hazards
Career Development
Firing
Organizational &
Employee Surveys
Contemporary Issues
Workplace Wellness
Risk Management
Employment Offers
Organizational Structure
Retaliation
Religion & Spirituality
Eligibility Verification (I-9)
Data Security
Organization & Employee Development
Tags
Article
A Quick Look at The Great Resignation
The Great Resignation, as experts call it, is a rather fitting term for a phenomenon where millions ...
Gig Economy and Its Impact on Staffing Firms
With over 20.5 million US workers losing their jobs in April 2020 during the national lockdown, man ...
Nursing Job Openings
It’s no secret that the healthcare sector has been reigning in all its powers over the years, parti ...
How to Cope with America’s Return-To-Office Plans
If you’re looking forward to shifting from remote to in-office work, here are a few ways to cope wi ...
Comments