U.S. Nonfarm Payrolls Rose 263K in November; Employment Rate 3.7% -- Update
03 December 2022 - 1:24AM
Dow Jones News
By Sarah Chaney Cambon
The U.S. economy added 263,000 jobs in November and the jobless
rate remained at 3.7%, signs of continued strength in the labor
market.
The November payrolls gain compared with an upwardly revised
284,000 jobs in October, the Labor Department said Friday. Payrolls
grew in leisure and hospitality, healthcare and government.
Retailers and transportation-and-warehousing companies cut jobs in
a sign of weak holiday hiring.
Average hourly earnings grew 5.1% in November from a year
earlier, the department said. Wage growth has remained elevated but
roughly stable after a sharp increase earlier in the year.
November job growth was roughly in line with the previous three
months, when payrolls grew an average of 282,000 per month. Job
growth continues to exceed the 2019 monthly average of 164,000,
though gains have slowed from the first half of the year.
Write to Sarah Chaney Cambon at sarah.chaney@wsj.com
(END) Dow Jones Newswires
December 02, 2022 09:09 ET (14:09 GMT)
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