Overview
- The BLS said nonfarm payrolls rose by 64,000 in November after a 105,000 decline in October tied largely to more than 150,000 federal buyouts.
- Unemployment climbed to 4.6% in November, the highest since September 2021, while October’s unemployment rate was not published due to missed household data.
- Wage growth slowed to about 3.5% year over year in November, reinforcing signs of easing labor-market pressure.
- Gains were concentrated in health care and construction, with losses reported in manufacturing and transportation and continued declines in federal employment.
- The 43-day shutdown forced a combined October–November release and temporary survey weighting changes that BLS said raise variances, as separate data showed October retail sales were flat.