The Bureau of Labor Statistics (BLS) reports that the U.S. economy added 263,000 jobs in November, marking 11 months of consecutive payroll expansion by U.S. employers in 2022. These gains outpace many analysts’ expectations that employers would add about 200,000 positions.
The latest jobs report also notes that new job creation in September and October was lower than previously reported — by 23,000 positions. With these adjustments, the U.S. economy has seen employment rise by more than 3.5 million jobs since the beginning of the year.
Employers in leisure and hospitality helped drive November’s job growth
The BLS reports that employment in the leisure and hospitality sector increased by 88,000 jobs last month. Education and health services also saw a notable increase in employment in November, with employers adding 82,000 roles.
Employers in these industries also expanded their payrolls in November, according to the BLS:
- Government: 42,000 jobs added
- Construction: 20,000 jobs added
- Information: 19,000 jobs added
- Financial activities: 14,000 jobs added
- Manufacturing: 14,000 jobs added
- Professional and business services: 6,000 jobs added
Some industries also reported significant job losses in November, including retail (-29,900 jobs) and transportation and warehousing (-15,100 jobs).
Unemployment rate holds steady at 3.7%
The national unemployment rate in November was 3.7%, unchanged from October.
The unemployment rate for college-degreed workers ticked up slightly from 1.9% in October to 2.0% in November. These workers are in the highest demand by employers.
