The Jobs Report – November 2020

What you need to know:

  1. Overall this was a mixed report.
  2. The economy is still healing and adding jobs, but at an increasingly slower pace.
  3. The unemployment rate declined to 6.7% from 6.9% but some of that was due to people leaving the labor force.
  4. Unsurprisingly, the Retail industry shed 35k jobs.
  5. On a positive note, Construction and Manufacturing added a combined 47k jobs.
  6. This report highlights the challenges facing the U.S. Services industry and that employment has not experienced the V-shaped recovery evident in other parts of the economy.
  7. The December jobs report will give us better insight as to how much job gains have decelerated.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm


*The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data nor is it considered an offer to buy or sell any securities referred to herein. Links included herein are to unaffiliated third party sites. The Firm cannot verify or guarantee the accuracy of any information presented therein. By clicking on these links, the reader understands and acknowledges they are leaving Ziegler Capital Management’s web page.