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December 6, 2013
U.S. EMPLOYERS HIRED
A TOTAL OF
AVERAGE HOURLY EARNINGS
THE UNEMPLOYMENT RATE
WORKERS IN NOVEMBER
2.0% ABOVE LAST YEAR
7.8% LAST NOVEMBER
SOLID EMPLOYMENT GAINS IN NOVEMBER
• Job gains totaled 203,000 for the month, in line with the average monthly increase
of 204,000 since August.
• The unemployment rate continues to decline, reaching a five-year low of 7% in
November, and the labor force participation rate rebounded slightly.
• Although the recent labor market and economic data has been largely favorable, it
remains to be seen whether the positive trend will continue into 2014.
The healthy employment report for November suggests that U.S. employers took the recent partial government shutdown in stride,
as they added more than 200,000 workers to their payrolls, and the unemployment rate dipped to its lowest point in five years.
Including combined upward revisions to the prior two months’ employment figures, the U.S. economy has generated more than two
million jobs thus far in 2013.