Home LATEST NEWS Only 210,000 jobs created in the United States in November, far less...

Only 210,000 jobs created in the United States in November, far less than expected

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The US economy created just 210,000 jobs in November, half as many as analysts expected, reflecting the difficult recovery in the US labor market, the Labor Department said on Friday.

These figures are disappointing since economists expected 525,000 job creations for the last month. The most optimistic even anticipated more than 700,000 jobs.

It’s also bad news for President Joe Biden who has made jobs a priority. The US president was due to comment on this report mid-morning in Washington.

Several sectors have even recorded job losses, such as retail sales and the automotive sector.

Employment has increased by 18.5 million jobs since April 2020 when economic activity was crippled by the COVID-19 pandemic, the Department of Labor noted in a statement.

But it’s still 3.9 million below its February 2020 level, he adds.

Economists expected a widespread recovery, especially for the leisure and hospitality sector, which has been hit hardest by the pandemic.

But the latter remains very dependent on the evolution of the pandemic and finally hired few last month (+ 23,000) when the cases of COVID -19 rebounded.

The arrival of the new Omicron variant could further complicate the recovery of the job market.

The unemployment rate nonetheless fell, more than expected, falling to 4.2% (-0.4 percentage point) mainly for technical reasons since the method of calculation is different from that of job creations. Many people have also left the labor market in recent months, notably with early retirement.

The Labor Department, however, revised up the figures for October to 546,000 instead of 531,000 originally announced.

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