US jobs rise out-of-expected in November, unemployment rate drops to 6.7%
The US economy added the lowest number of employees in six months in November, as it was hampered by the rise in new cases of "Covid-19" again, which, along with the lack of more government aid money, threatens to alter the path of recovery from the recession of the pandemic.
The US Labor Department said on Friday that the number of jobs in non-farm sectors increased by 245,000 last month, after rising by 610,000 in October, the lowest increase since the jobs recovery began in May.
The fifth consecutive monthly slowdown in job increases has caused employment to fall well below its peak in February, and the closely watched jobs report covers only the first two weeks of November, when the current wave of coronavirus infections began.
Economists polled by Reuters had their views increased by 469,000 jobs in November. Employment reached a peak in June of 4,781 million, and reports on consumer spending and the manufacturing and services sectors indicated the slowdown in the recovery from the worst recession since the Great Depression.
The unemployment rate fell to 6.7% from 6.9% in October, but the rate data has been misrepresented by people mistakenly classifying themselves as "working but absent from work", keeping the focus on long-term unemployment and part-time workers for economic reasons.
masrtimes
