The Employment Situation Report for November 2021 showed that employers added only 210,000 jobs in November. Economists had predicted an addition of 500,000 jobs, following the jump seen in October. It wasn’t all bad news, however; the report, which is released by the U.S. Department of Labor, found that the unemployment rate fell from 4.6 percent to 4.2 percent.
The labor participation rate, which shows what percentage of the population is working or actively looking for a job, moved up to 61.8 percent, the highest level since March 2020. The retail industry took a hit in November, with the number of employees dropping by 20,000 from October. Retail has lost 176,000 people since February 2020.
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