US Recovery Continues to Slow - Only 245,000 Jobs Added in November

What Happened:

• The US economy added only 245,000 jobs in November. This is 224,000 jobs fewer jobs than economists had expected fueling concerns that the economic recovery continues to slow.

• Unemployment fell to 6.7%, down from 6.9% in October, however, economists warn that this is because more workers left the labor force in November.

• The nation remains down about 9.8 million jobs since the start of the Coronavirus pandemic.

• The retail sector, which had strengthened over the summer, registered 35,000 fewer jobs because businesses hired fewer seasonal workers this year.

Photo Credit: Elchinator

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