What is U.S. Unemployment Rate for November 2018?
What is the average U.S. Hourly Wage as of November 2018?
The unemployment rate remains unchanged at 3.7%, and although 155,000 new jobs were added, it seems the pace of job creation is slowing a bit. Yearly wage growth remained at 3.1% for the second month in a row, a level not seen since the recession.
Service-related industries added 132,000 jobs and manufacturing grew by 27,000 jobs. Heading into the holiday season, retail added 18,000 jobs. Incidentally, clothing stores, electronics and appliance stores, sporting goods, and book stores all reported a job decline, while general merchandise employment jumped by 39,000. Healthcare added the largest number of workers with 32,000.
What does this mean to employers?
Statistics show the typical worker is seeking full-time employment over part-time and are looking for a good job with rising wages. Employees who find themselves dissatisfied with sluggish wage growth and little opportunity for advancement are leaving their employers for better opportunity with little concern over having a replacement job already lined up. Employers seeking skilled talent are going to find themselves especially challenged for the foreseeable future as all indicators point to a lack of available skilled trade workers in this employee’s job market.
About the Report
Source2’s Monthly U.S. Unemployment Rate & U.S. Average Hourly Wage report makes it easy to quickly see the latest numbers from the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) surveys. Click here to download an excel spreadsheet with three years of data in cell and chart formats, or click here for a one-page pdf snapshot to print and share.
U.S. Average Hourly Earnings - All Private, Nonfarm (Seasonally Adjusted) https://www.bls.gov/news.release/empsit.t19.htm
Those Not in the Workforce https://www.bls.gov/web/empsit/cpseea38.htm
Lynette Stokes is a Senior Engagement Specialist with Source2, experienced in offering solution recommendations that solve the challenges of clients with a focus on improved performance, flexibility and cost effectiveness. Schedule a free consultation with her today.