What is U.S. Unemployment Rate for November 2017?
According to the U.S. Bureau of Labor Statistics (BLS) the U.S. national unemployment rate (seasonally adjusted) for November 2017 was 4.1%. This represents no change from October 2017.
What is the average U.S. Hourly Wage as of November 2017?
According to the U.S. Bureau of Labor Statistics (BLS), the U.S. average hourly wage is $26.55 per hour, which is an increase of $0.05 per hour from October 2017.
Source2's Employment Outlook
Nonfarm payrolls rose by 228,000 in November beating expectations while the unemployment rate held steady at 4.1 percent as the U.S. economy continues to hum along, the Labor Department reported Friday.
Economists surveyed by Reuters had expected nonfarm payrolls to grow by 200,000.
A more encompassing measure of joblessness that includes discouraged workers and those holding part-time positions for economic reasons moved up one-tenth of a point to 8 percent. The ranks of those not in the labor force edged higher by 35,000 to 95.4 million.
Closely watched wage data fell short of expectations. Average hourly earnings rose 0.2 percent for the month and 2.5 percent for the year, versus projected increases of 0.3 percent for the month and 2.7 percent for the year.
The biggest November job gains came in professional and business services [46,000], manufacturing [31,000] and health care [30,000]. In total, goods-producing occupations rose by 62,000. Construction saw a gain of 24,000, almost all of which were specialty trade contracts, a profession that has added 132,000 jobs over the past year.
What does this mean for employers?
The quality of job creation tilted toward full time, whose ranks grew by 160,000, while part-time positions contracted by 125,000, according to the household survey. Nonfarm payrolls grew by 228,000 in November and the unemployment rate held steady at 4.1 percent, but economists expected 200,000 new jobs and an unchanged headline rate. Wage growth again disappointed, with average hourly earnings up just 2.5 percent annualized, compared with estimates of 2.7 percent.
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.
U.S. Unemployment Rate (Seasonally Adjusted) http://data.bls.gov/timeseries/LNS14000000
U.S. Average Hourly Earnings - All Private, Nonfarm (Seasonally Adjusted) http://www.bls.gov/news.release/empsit.t19.htm
David Nuxol is the President and CEO of Source2. David has nearly 30 years' experience as an executive in the outsourcing and recruitment industry. Schedule a free consultation with him today.