{"id":2843,"date":"2020-12-10T17:16:14","date_gmt":"2020-12-10T21:16:14","guid":{"rendered":"https:\/\/www.ziprecruiter.com\/blog\/?p=34286"},"modified":"2020-12-10T17:16:14","modified_gmt":"2020-12-10T21:16:14","slug":"november-2020-jobs-report","status":"publish","type":"post","link":"http:\/\/jerome1greene.x10host.com\/wp\/november-2020-jobs-report\/","title":{"rendered":"November 2020 Jobs Report\u00a0"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\"><span style=\"font-weight: 400;\">jobs report released December 4, 2020<\/span><\/a><span style=\"font-weight: 400;\"> shows a dramatic slowdown in private sector job gains, from 1.028M, 930K, and 877K net gains in August, September and October, respectively, to just 344K in November.\u00a0<\/span><\/p>\n<div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/4618681?94099\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><\/div>\n<p><span style=\"font-weight: 400;\">The weak report reflects the weather cooling, Covid surging, and fiscal support for the economy waning. It also reflects an unusual holiday season in which seasonal hiring has been lower than usual and concentrated in different industries amid a dramatic decline in tourism and foot traffic. Here are three key takeaways:\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Pandemic Surge Pauses Recovery in Restaurants and Retail\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Restaurants and bars lost 17K jobs and are likely to lose more in December, given the recent return of lockdown measures in several cities and states. The retail sector also registered a 38K decline\u2014although that was mostly the result of seasonal adjustments. The industry actually added 302K workers between October and November, but that is usually a period in which it adds far more (432K jobs in 2019 and 482K in 2018, respectively).\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">E-Commerce-Related Employment Soars\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The apparent decline in traditional retail was more than offset by gains in e-commerce-related jobs. Couriers and messengers (81.9K) and warehousing and storage (36.8K) posted large gains. Nonetheless, the November surge in employment was still substantially smaller than usual. Seasonally unadjusted figures show a gain of 520K private sector jobs overall\u20149% fewer than in the same month last year.\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Labor Force Participation Ticks Downwards\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Although the unemployment rate fell from 6.9% to 6.7%, it did so for the wrong reasons. Some Americans gave up looking for work. The number of adults not in the labor force\u2014neither working nor actively seeking work\u2014rose by 560,000, as the labor force participation rate fell by 0.2 percentage points.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The disappointing jobs report has intensified pressure on Congress to reach a deal in its latest round of negotiations on an economic relief bill. Thanks to highly effective vaccines, an end to the pandemic is now in sight. But the so-called Covid cliff\u2014the expiration of various <\/span><a href=\"https:\/\/www.congress.gov\/116\/bills\/hr748\/BILLS-116hr748enr.pdf\"><span style=\"font-weight: 400;\">CARES Act<\/span><\/a><span style=\"font-weight: 400;\"> relief measures\u2014will be here at the end of December, well before vaccination efforts become widespread. Thousands of businesses and millions of jobless Americans are eager for Congress to provide relief that can help tide them over.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The jobs report released December 4, 2020 shows a dramatic slowdown in private sector job gains, from 1.028M, 930K, and 877K net gains in August, September and October, respectively, to just 344K in November.\u00a0 The<\/p>\n","protected":false},"author":26,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,31,36,152,35],"tags":[],"class_list":["post-2843","post","type-post","status-publish","format-standard","hentry","category-employer","category-job-market-insights","category-job-seeker","category-jobs-report","category-labor-market-trends"],"_links":{"self":[{"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/posts\/2843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/comments?post=2843"}],"version-history":[{"count":1,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/posts\/2843\/revisions"}],"predecessor-version":[{"id":2844,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/posts\/2843\/revisions\/2844"}],"wp:attachment":[{"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/media?parent=2843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/categories?post=2843"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/jerome1greene.x10host.com\/wp\/wp-json\/wp\/v2\/tags?post=2843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}