Job growth that stalled in October rebounded the following month as the effects of hurricanes and labor disputes subsided, the Bureau of Labor Statistics reported Friday.
Employers added 227,000 jobs in November compared to 36,000 jobs in October — signaling modest improvement in the labor market.
Employment rates started trending upward again in industries including health care, leisure and hospitality, government and social assistance. Retail, however, lost 28,000 positions after adding practically no jobs over the past year, according to The New York Times. It's a sign that holiday hiring may be lower than normal.
Employment rates showed “little or no change over the month in other major industries,” according to the Bureau of Labor Statistics, including the construction, transportation, information, financial professions and business services sectors.
While the nationwide unemployment rate remained relatively steady, ticking up to 4.2% from 4.1% last month, workers who are employed may be seeing a small increase in their wages. Average hourly earnings for all employees rose by 13 cents, or 0.4%, to $35.61.
Experts are mixed on the latest report, with some showing signs of optimism.
“Job creation may not be as robust as in the past years, but we are not seeing a disaster in the job market,” Bryon Anderson, head of fixed income at Laffer Tengler Investments, told CBS News.
The labor market is "decent, but it’s nothing to get too excited about,” Sarah House, a senior economist at Wells Fargo, told The New York Times. “We’re not seeing it fall apart by any means, but I don’t think we’ve seen the end of the soft patch just yet.”
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