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Fri Dec 4, 2020, 09:43 AM

Job Growth Slows Sharply As Pandemic Takes Toll On Economy

Source: NPR

Job Growth Slows Sharply As Pandemic Takes Toll On Economy

December 4, 2020 8:37 AM ET

Scott Horsley

U.S. employers sharply scaled back their hiring last month, as the coronavirus pandemic put new pressure on restaurants, retailers and other businesses.

The Labor Department said Friday employers added just 245,000 jobs in November, down from a revised 610,000 in October. The unemployment rate dipped to 6.7%, from 6.9% the month before. So far the U.S. has recovered 56% of the jobs that were lost in March and April, and payroll employment is still 9.8 million below its pre-pandemic levels.

The slowdown in job growth comes as new infections are surging, and as Congress wrestles with whether to extend relief measures currently set to expire the day after Christmas.

This week, the United States set a record with more than 100,000 people hospitalized with the coronavirus. More than 200,000 new infections were diagnosed on Thursday, and nearly 3,000 people died that day from COVID-19.

{snip}

Read more: https://www.npr.org/2020/12/04/942114022/job-growth-slows-sharply-in-november-as-pandemic-takes-toll-on-economy



I forgot all about the jobs report.

-- -- -- -- -- --

U.S. economy gains just 245,000 jobs in final report of 2020 as recovery stalls with Covid surging

"The virus is in the driver's seat. The virus is what determines the trajectory of the recovery," one economist said.

https://www.nbcnews.com/business/economy/u-s-economy-gains-just-245-000-jobs-final-report-n1249983

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Reply Job Growth Slows Sharply As Pandemic Takes Toll On Economy (Original post)
mahatmakanejeeves Dec 2020 OP
mahatmakanejeeves Dec 2020 #1
mahatmakanejeeves Dec 2020 #2
BumRushDaShow Dec 2020 #3
mahatmakanejeeves Dec 2020 #4
BumRushDaShow Dec 2020 #5
mahatmakanejeeves Dec 2020 #6
mahatmakanejeeves Dec 2020 #7
mahatmakanejeeves Dec 2020 #8

Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 09:53 AM

1. From the source:

Last edited Fri Dec 4, 2020, 01:56 PM - Edit history (2)

Payroll employment rises by 245,000 in November; unemployment rate edges down to 6.7%

Economic News Release USDL-20-2184

Employment Situation Summary

Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, December 4, 2020

Technical information:
Household data: [email protected] * www.bls.gov/cps
Establishment data: [email protected] * www.bls.gov/ces

Media contact: (202) 691-5902 * [email protected]


THE EMPLOYMENT SITUATION -- NOVEMBER 2020


Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However, the pace of improvement in the labor market has moderated in recent months. In November, notable job gains occurred in transportation and warehousing, professional and business services, and health care. Employment declined in government and retail trade.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.

Household Survey Data

In November, the unemployment rate edged down to 6.7 percent. The rate is down by 8.0 percentage points from its recent high in April but is 3.2 percentage points higher than it was in February. The number of unemployed persons, at 10.7 million, continued to trend down in November but is 4.9 million higher than in February. (See table A-1. For more information about how the household survey and its measures were affected by the coronavirus pandemic, see the box note at the end of this news release.)

{snip}

Household Survey Supplemental Data

In November, 21.8 percent of employed persons teleworked because of the coronavirus pandemic, up from 21.2 percent in October. These data refer to employed persons who teleworked or worked at home for pay at some point in the last 4 weeks specifically because of the pandemic.

{snip}

The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in November. In manufacturing, the workweek decreased by 0.2 hour to 40.3 hours, and overtime decreased by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.2 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for September was revised up by 39,000, from +672,000 to +711,000, and the change for October was revised down by 28,000, from +638,000 to +610,000. With these revisions, employment in September and October combined was 11,000 more than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

____________
The Employment Situation for December is scheduled to be released on Friday, January 8, 2021, at 8:30 a.m. (ET).

{snip}

* * * * *

[center]Facilities for Sensory Impaired[/center]

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

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Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 10:00 AM

2. Links to earlier reports:

Good morning, all.

Wed Dec 2, 2020: Links to earlier reports:

Fri Nov 6, 2020: Links to earlier reports:

Wed Nov 4, 2020: Links to earlier reports:

Fri Oct 2, 2020: Links to earlier reports:

Wed Sep 30, 2020: Links to earlier reports:

Fri Sep 4, 2020: Links to earlier reports:

Wed Sep 2, 2020: Links to earlier reports:

Fri Aug 7, 2020: Links to earlier reports:

Wed Aug 5, 2020: Links to earlier reports:

Thu Jul 2, 2020: Links to earlier reports:

Fri Jun 5, 2020: Links to earlier reports:

Fri May 8, 2020: Links to earlier reports:

Friday, April 3, 2020: Links to earlier reports:

Wednesday, March 4, 2020: Links to earlier reports:

Friday, February 7, 2020: Links to earlier reports:

Thursday, January 9, 2020: Links to earlier reports:

Updated from this post of Friday, December 6, 2019: Good morning. Links to earlier reports:

-- -- -- -- -- --

[center]Past Performance is Not a Guarantee of Future Results.[/center]

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2020:

Private-sector employment increased by 307,000 from October to November, on a seasonally adjusted

Bureau of Labor Statistics, for employment in October 2020:

U.S. added 638,000 jobs in October, unemployment rate slides to 6.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in October 2020:

Private-sector employment increased by 365,000 from September to October, on a seasonally adjusted

Bureau of Labor Statistics, for employment in September 2020:

September jobs report: US economy gains 661,000 payrolls, unemployment rate ticks down to 7.9%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in September 2020:

Private-sector employment increased by 749,000 from August to September on seasonally adjusted basis

Bureau of Labor Statistics, for employment in August 2020:

Economy adds 1.4 million jobs in August, and the unemployment rate fell below 10 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in August 2020:

Private-sector employment increased by 428,000 from July to August, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in July 2020:

Nonfarm payroll employment rises by 1.8 million in July; unemployment rate falls to 10.2%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in July 2020:

Private-sector employment increased by 167,000 from June to July, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in June 2020:

Nonfarm payroll employment rises by 4.8 million in June; unemployment rate falls to 11.1%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in June 2020:

ADP National Employment Report: Private Sector Employment Increased by 2,369,000 Jobs in June

Bureau of Labor Statistics, for employment in May 2020:

Unemployment rate drops to 13 percent, as the economy began to lose jobs at a slower pace

ADP[sup]®[/sup] (Automatic Data Processing), for employment in May 2020:

Private-sector employment decreased by 2,760,000 from April to May, on a seasonally adjusted basis.

Bureau of Labor Statistics, for employment in April 2020:

Jobless rate soared to 14.7% in April as U.S. shed 20.5 million jobs amid coronavirus pandemic

ADP[sup]®[/sup] (Automatic Data Processing), for employment in April 2020:

ADP National Employment Report: Private Sector Employment Decreased by 20,236,000 Jobs in April

Bureau of Labor Statistics, for employment in March 2020:

Nonfarm payroll employment falls by 701,000 in March; unemployment rate rises to 4.4%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in March 2020:

Private-sector employment decreased by 27,000 from February to March, on a seasonally adjusted basis

Bureau of Labor Statistics, for employment in February 2020:

The U.S. labor market showed strength in February, adding 273,000 jobs

ADP[sup]®[/sup] (Automatic Data Processing), for employment in February 2020:

U.S. adds 183,000 private-sector jobs in February, ADP says

Bureau of Labor Statistics, for employment in January 2020:

The economy added 225,000 jobs in January, showing continued strength

ADP[sup]®[/sup] (Automatic Data Processing), for employment in January 2020:

ADP says 291,000 private-sector jobs created in January, largest gain in 4 years

Bureau of Labor Statistics, for employment in December 2019:

Economy adds 145,000 jobs in December as unemployment rate remains at 3.5 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2019:

U.S. private sector adds the most jobs in eight months

Bureau of Labor Statistics, for employment in November 2019:

Labor market remained strong in November as U.S. economy added 266,000 jobs

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2019:

U.S. private sector job growth slows down sharply in November: ADP

Bureau of Labor Statistics, for employment in October 2019:

U.S. economy added 128,000 jobs in October as GM strike displaced workers; jobless rate ticks up

ADP[sup]®[/sup] (Automatic Data Processing), for employment in October 2019:

ADP National Employment Report: Private Sector Employment Increased by 125,000 Jobs in October

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Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 12:38 PM

3. I got jammed up this morning

when my iPad started upgrading to 14.2 (that's what I usually have to alert me to the reports )

Good morning (at least what is left of it) and TGIF!

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Response to BumRushDaShow (Reply #3)

Fri Dec 4, 2020, 01:04 PM

4. Oh, I went through that a couple of weeks ago on my phone. It took some time.

I'm glad that's out of the way.

I had forgotten all about the report. Then I noticed it was 8:41. I flipped over to DU to see what you had said.

Nada. What?

I was afraid we were going to have to pay ransom.

Good afternoon, by now.

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Response to mahatmakanejeeves (Reply #4)

Fri Dec 4, 2020, 01:11 PM

5. I got a new iPhone last month

(after 6 years) and that came with the latest version (at the time). The iPad was still on 12.1 or something and I think I hit something going through some settings and it downloaded it, and at that point, it stopped sending me the breaking news banners, so let it go on and finish upgrading.

C'est la vie!

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Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 01:54 PM

6. Additional links:

It used to be that you could get free access to articles in The Wall Street Journal. by going in through TWSJ.'s Twitter account or the Twitter accounts of the authors:

How to get around the paywall to read articles in The Wall Street Journal.:

For free access to articles in The Wall Street Journal., trying going in through the authors' Twitter feeds:

This trick doesn't seem to work anymore, but you might be able to get in if they've slipped up. Here are those accounts:

* * * * *

The Wall Street Journal.: @WSJ
https://twitter.com/wsj

Wall Street Journal

Breaking news and features from the WSJ.

* * * * *

Ben Leubsdorf: @BenLeubsdorf
https://twitter.com/BenLeubsdorf

I cover the economy at @WSJ. @ConMonitorNews, @AP, @the_herald alum. DC native. Hyperactive news omnivore. Also I like burritos. [email protected]

* * * * *

Josh Zumbrun: ‎@JoshZumbrun
https://twitter.com/JoshZumbrun

National economics correspondent for the Wall Street Journal. Covering the world's usual state of greed and disorder, confusion and apathy. [email protected]

* * * * *

Nick Timiraos: @NickTimiraos
https://twitter.com/NickTimiraos

National economics correspondent, The Wall Street Journal

Please look at the tweets, as Nick Timiraos likes to slice and dice the data every which way. Also, link to the "11 charts " article from his Twitter feed to get past TWSJ.'s paywall.

* * * * *

Jeffrey Sparshott: @jeffsparshott
https://twitter.com/jeffsparshott

[email protected]

* * * * *

Paul Vigna: @paulvigna
https://twitter.com/paulvigna
Markets, bitcoin, and the zombie apocalypse.

* * * * *

Eric Morath: @EricMorath
https://twitter.com/EricMorath

[email protected]
I'm a Wall Street Journal economy reporter, dad, husband and Spartan for life. [email protected]

Washington DC

blogs.wsj.com/economics/

* * * * *

Sarah Chaney: ‎@sechaney
https://twitter.com/sechaney

Economy Reporter at The Wall Street Journal. Tar Heel. [email protected]

* * * * *

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Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 02:00 PM

7. Links to charts and graphs from the BLS Twitter account:

Payroll employment rises by 245,000 in November; unemployment rate edges down to 6.7% http://go.usa.gov/vrK #JobsReport #BLSdata



Impact of the COVID-19 pandemic on The Employment Situation for November 2020 https://go.usa.gov/x7z3r #JobsReport #BLSdata



See our interactive graphics on today’s #JobsReport http://go.usa.gov/cn5B4 #BLSdata #DataViz



Understanding BLS Unemployment Statistics #JobsReport #BLSdata


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Response to mahatmakanejeeves (Original post)

Fri Dec 4, 2020, 08:12 PM

8. Secratary of Labor Eugene Scalia Praises 344,000-job gain in November.

On Earth, the number was 245,000. On the second floor of the DOL's Frances Perkins Building, the number was 344,000. This is what they mean by "cherry-picking the data."

Hat tip, I'm on their email list. I got this one this morning.

News Release

STATEMENT BY U.S. SECRETARY OF LABOR EUGENE SCALIA ON THE NOVEMBER JOBS REPORT

WASHINGTON, DC – U.S. Secretary of Labor Eugene Scalia issued the following statement regarding the November 2020 Employment Situation Report:

“The economy continued to add jobs in November, with a 344,000 increase in private sector payrolls and labor demand continuing to grow in most sectors. However, jobs were lost in retail and food and beverage establishments in November, and a number of workers pulled away from the labor force amid rising coronavirus cases. We know from State-by-State data released two weeks ago that the employment situation varies significantly by State: in October, half the States were at 6% unemployment or lower, but two of the largest states—California and New York—were substantially above 9% that month. At 6.7%, the unemployment rate is lower than it was for the first five years of the last Administration following the Great Recession.”

Agency Office of the Secretary
Date December 4, 2020
Release Number 20-2193-NAT

Contact: Eric Holland
Phone Number 202-693-4676
Email [email protected]

US Labor Department Retweeted

See my statement about today’s jobs report: https://dol.gov/newsroom/releases/osec/osec20201204


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