Employment increases by 228,000 jobs in November
U.S. employment expanded in November, as the economy added 228,000 new nonfarm payroll jobs in November, according to the Bureau of Labor Statistics. The unemployment rate was unchanged at 4.1 percent.
The strong job gains followed on from a robust employment situation in October, even though total jobs added in the month were revised down to 244,000 in the latest report.
The strongest employment categories were professional and business services, adding 46,000 jobs; manufacturing, adding 31,000 jobs; and healthcare, adding 30,000 jobs. Within the construction category, specialty trade contractors added 23,000 jobs in November; so far this year, the employment category has increased by 132,000 jobs.
On average, the United States has added 174,000 jobs per month in 2017; in 2016, the economy added 187,000 jobs on average per month. The strong employment situation is consistent with the moderately improving U.S. economy. In the third quarter, GDP increased at an annual rate of 3.3 percent, according to the second estimate released by the Bureau of Economic Analysis. GDP increased at an annual rate of 3.1 percent in the second quarter. In addition, corporate profits from current production increased $91.6 billion in the third quarter, up from $14.4 billion in the second quarter.
