Unemployment rate
3.7%
Total nonfarm payroll employment rose by 199,000 jobs in November and the unemployment rate decreased by .2%. Healthcare and government saw gains, as well as manufacturing, as workers returned from a strike. Retail trade employment decreased. The labor force participation rate has been essentially flat near 62.8% since August. Average hourly earnings rose by 12 cents (.4%) to $34.10, and have increased by 4% over the past 12 months. The average workweek increased by .1 hour to 34.4 hours.
According to the American Staffing Association, temporary help employment was 1.86% of total nonfarm employment in November.
Major Industry Employment
Notable Gains and Losses
- Healthcare and Social Assistance: +93,200
- Government: +49,000
- Leisure and Hospitality: +40,000
- Manufacturing: +28,000
- Information: +10,000
- Retail Trade: -38,400
- Temporary Help Services: -13,600
- Transportation and Warehousing: -5,000
Read the full report at BLS.gov
Workforce and Economic News
Blue-Collar Hiring and Pay Gains Stay Hot in a Cooling Job Market
NBC News — December 9, 2023
Many blue-collar workers are riding into 2024 following a year of stronger hiring, more plentiful job opportunities, and faster pay growth than some of their white-collar counterparts. Many white-collar employers have cut down on hiring this year, while people with the least education have seen some of the steepest growth in employment levels. Read more at NBCNews.com.
When Candidates and Recruiters Vanish: Indeed’s Ghosting in Hiring Report
Indeed — December 7, 2023
What began as an emerging trend before the pandemic—job seekers “ghosting” during the hiring process by not showing up to interviews and even disappearing on the first day of work—quickly grew to become one of the biggest challenges facing employers. Not only were quality candidates difficult to find, but they would often simply vanish. Read more at Indeed.com.
Opinion: How Good is the U.S. Economy? It’s Beating Pre-Pandemic Predictions.
Washington Post — December 8, 2023
Americans might be loath to believe it, but on paper, the U.S. economy is doing pretty well. So well, in fact, that we’re outperforming forecasts made even before the pandemic began. Employment is now 2 million jobs higher than was expected in forecasts made way back in January 2020 by the nonpartisan Congressional Budget Office. Read more at WashingtonPost.com.
America Employed
Flexibility vs. Stability: 1099 Work Gains Popularity, but Traditional W-2 Employment Preferences Endure
ExpressPros.com — November 29, 2023
Job seekers’ and employees’ desire for flexibility has upended the workforce, and while the majority of both groups don’t believe that 1099 employment is simply a fad (66% job seekers and 58% hiring managers), more than 7 in 10 believe it will never replace traditional employment (72% and 75%, respectively). This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
Despite signaling plans to hire full-time staff, companies appear to have a growing interest in alternative hires. Nearly 3 in 10 (29%) are planning to hire seasonal, temporary, or contract workers. This intention aligns with the trends observed in the second half of 2022, where 28% of companies expressed similar hiring plans. Currently, nearly half of U.S. hiring managers (47%) say their businesses employ 1099 workers, and 29% do not currently but have done so in the past. Only 24% say they’ve never employed 1099 workers. Read more at ExpressPros.com.
Employers’ Preferred Hiring Demographics May Face Pressure Against DEI Compliance
ExpressPros.com — November 8, 2023
While U.S. companies welcome a variety of applicants, priority is placed on some groups, with some hiring managers feeling pressure to meet diversity, equity, and inclusion (DEI) requirements. This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
Hiring managers say they place a great deal/some priority on those under 30 (70%) and those who identify as female (66%), followed by military veterans (59%) and people with disabilities (53%); though few place “a great deal” of priority on hiring these groups. Less than half of U.S. hiring managers place priority on hiring those who identify as LGBTQ+ (48%) and Black, Indigenous and people of color (BIPOC) (44%). Notably, more than half of hiring managers (56%) feel pressured to put meeting DEI hiring requirements above hiring the best candidate for the job. Read more at ExpressPros.com.
