WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that 64,000 jobs were added in November. The overall unemployment rate grew slightly to 4.6% in November from 4.4% in September.
The unemployment rate for women rose slightly to 4.5% from 4.4%. Overall labor force participation grew slightly to 62.5% in November from 62.4% in September.
The overall increase in labor force participation is counter to a stay in women’s labor force participation, which kept steady at 57.4% in November and September. Meanwhile, men’s labor force participation also remained steady at 67.8% in November from 67.8% in September. Both rates for men and women are still below pre-pandemic levels.
November saw strong growth in healthcare jobs, construction, and social assistance. This was partially offset by employment losses in the federal government and in transportation and warehousing. Federal employment dropped 6,000 jobs in November (following a decline of 162,000 in October), totaling 271,000 jobs lost since January.
The National Federation of Independent Businesses (NFIB) Small Business Optimism Index declined 0.6 points in October to 98.2 but remained above its 52-year average of 98. The Uncertainty Index fell 12 points from September to 88—the lowest reading of this year.
Carrie Sheffield, senior policy analyst at Independent Women’s Center for Economic Opportunity, issued the following statement:
“America’s stable labor market is a positive sign for our economy. The rise in labor force participation is a signal of confidence as more workers leave the sidelines to enter the labor market. Falling uncertainty among small businesses bodes well for future job creation as former federal workers shift to the private sector.
“Washington has undertaken positive steps to continue to liberate the labor market through smart deregulation—especially President Trump’s powerful requirement that for every one regulation promulgated, 10 are removed. This frees up revenue for businesses to reinvest in their workforces by hiring or raising wages.
“We look forward to the continued progress toward tax and regulatory reforms that will enable job and wage growth, thanks to the Working Families Tax Cut (One Big, Beautiful Bill Act) as witnessed following passage of the 2017 Tax Cuts and Jobs Act.
“These efforts bear fruit and continue to improve job creation for American families in the months ahead.”
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