58000 new jobs in DOL Nov Report (112000 less 54000 adjustments

[papau]

http://www.bls.gov/news.release/empsit.nr0.htm
Friday, December 3, 2004. THE EMPLOYMENT SITUATION: NOVEMBER 2004

Employment rose in November, and the unemployment rate, at 5.4 percent, was
essentially unchanged, the Bureau of Labor Statistics of the U.S. Department of
Labor reported today. Nonfarm payroll employment increased by 112,000 over the
month, with job gains in several service-providing industries.

Unemployment (Household Survey Data)

Both the number of unemployed persons, 8.0 million, and the unemployment
rate, 5.4 percent, were about unchanged in November. The jobless rate has been
either 5.4 or 5.5 percent in each month since July. This is slightly below the
rates that prevailed in the first half of 2004.

In November, the unemployment rates for the major worker groups--adult men
(4.9 percent), adult women (4.8 percent), teenagers (16.6 percent), whites (4.7
percent), blacks (10.8 percent), and Hispanics or Latinos (6.7 percent)--showed
little or no change over the month. The unemployment rate for Asians was 4.2
percent in November, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

Total Employment and the Labor Force (Household Survey Data)

Total employment in November grew by 483,000 to 140.3 million, and the em-
ployment-population ratio--the proportion of the population age 16 and over
with jobs--edged up to 62.5 percent. The civilian labor force rose by 439,000
in November to 148.3 million; the labor force participation rate was 66.1 per-
cent. (See table A-1.)

Over the year, the number of persons who held more than one job increased
by 346,000 to 7.6 million, not seasonally adjusted. These multiple jobholders
represented 5.4 percent of total employment in November. (See table A-13.)

Persons Not in the Labor Force (Household Survey Data)

There were 1.5 million persons who were marginally attached to the labor
force in November, essentially the same as a year earlier. (Data are not
seasonally adjusted.) These individuals wanted and were available to work
and had looked for a job sometime in the prior 12 months. They were not
counted as unemployed, however, because they did not actively search for
work in the 4 weeks preceding the survey. Among the marginally attached,
there were 392,000 discouraged workers in November, about the same as a year
earlier. Discouraged workers were not currently looking for work specifically
because they believed no jobs were available for them. The other 1.1 million
marginally attached had not searched for work for reasons such as school or
family responsibilities. (See table A-13.)



Industry Payroll Employment (Establishment Survey Data)

Total nonfarm payroll employment increased by 112,000 in November to
132.1 million, seasonally adjusted. This followed a much larger increase
of 303,000 in October. In November, employment rose in health care and
social assistance, leisure and hospitality, and other service-providing
industries. (See table B-1.)

Employment in health care and social assistance grew by 28,000 in November.
Over the year, this industry has added 316,000 jobs. In November, employment
increased most notably in hospitals (8,000), nursing and residential care
facilities (7,000), and offices of physicians (6,000).

Leisure and hospitality employment increased by 34,000 over the month
and has risen by 220,000 over the year. Within leisure and hospitality,
employment in accommodations grew by 18,000 in November; about half of the
increase represented the return of workers who had been on strike.

Professional and technical services added 16,000 jobs over the month.
Within this industry, employment rose in computer systems design and re-
lated services (10,000) and in architectural and engineering services
(8,000). Within administrative and support services, employment in the
temporary help industry continued to trend upward.

Within the financial activities sector, employment in credit inter-
mediation and related activities increased by 14,000 over the month.
Commercial banks accounted for 5,000 of the job gain, and growth contin-
ued in mortgage-related industries.

Employment in wholesale trade continued to trend upward. Since its
most recent low point in October 2003, the industry has gained 92,000
jobs.

In the information sector, telecommunications gained 6,000 jobs in
November. Since its peak in March 2001, however, the industry has lost
300,000 jobs.

Manufacturing employment was about unchanged in November. The indus-
try added 82,000 jobs from February through May, but factory employment
has shown little movement since. In November, semiconductors and elec-
tronic components lost 3,000 jobs.

Employment in construction edged up in November (11,000) following
an unusually large increase in October (65,000). October's gain
partly reflected rebuilding and cleanup activity following the four
hurricanes that struck the U.S. in August and September. Construction
employment has expanded by 373,000 since its most recent low point in
March 2003.

- 4 -

Weekly Hours (Establishment Survey Data)

The average workweek for production or nonsupervisory workers on pri-
vate nonfarm payrolls decreased by 0.1 hour in November to 33.7 hours,
seasonally adjusted. The manufacturing workweek also declined by 0.1 hour,
to 40.5 hours. Manufacturing overtime was unchanged over the month at 4.5
hours. (See table B-2.)

The index of aggregate weekly hours of production or nonsupervisory
workers on private nonfarm payrolls fell by 0.2 percent in November to
100.9 (2002=100). The manufacturing index declined by 0.3 percent over
the month to 94.2. (See table B-5.)

Hourly and Weekly Earnings (Establishment Survey Data)

Average hourly earnings of production or nonsupervisory workers on
private nonfarm payrolls were up by 1 cent in November to $15.83,
seasonally adjusted, following a 4-cent gain in October. Average
weekly earnings decreased by 0.2 percent over the month to $533.47.
Over the year, average hourly earnings increased by 2.4 percent, and
average weekly earnings grew by 2.1 percent. (See table B-3.)

http://www.bls.gov/news.release/empsit.t12.htm
HOUSEHOLD DATA HOUSEHOLD DATA

Table A-12. Alternative measures of labor underutilization

(Percent)



Not seasonally adjusted Seasonally adjusted

Measure

Nov. Oct. Nov. Nov. July Aug. Sept. Oct. Nov.
2003 2004 2004 2003 2004 2004 2004 2004 2004

U-1 Persons unemployed 15 weeks or longer, as a percent of
the civilian labor force................................. 2.2 1.9 1.9 2.4 1.9 2.0 2.0 2.1 2.0

U-2 Job losers and persons who completed temporary jobs, as
a percent of the civilian labor force.................... 3.1 2.5 2.6 3.2 2.8 2.7 2.7 2.7 2.7

U-3 Total unemployed, as a percent of the civilian labor
force (official unemployment rate)....................... 5.6 5.1 5.2 5.9 5.5 5.4 5.4 5.5 5.4

U-4 Total unemployed plus discouraged workers, as a percent
of the civilian labor force plus discouraged workers..... 5.9 5.4 5.4 6.2 5.9 5.8 5.7 5.7 5.7

U-5 Total unemployed, plus discouraged workers, plus all
other marginally attached workers, as a percent of the
civilian labor force plus all marginally attached
workers.................................................. 6.6 6.1 6.1 6.8 6.5 6.4 6.4 6.5 6.4

U-6 Total unemployed, plus all marginally attached workers,
plus total employed part time for economic reasons, as a
percent of the civilian labor force plus all marginally
attached workers......................................... 9.7 9.1 9.1 10.1 9.5 9.5 9.4 9.7 9.4

NOTE: Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want
and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally
attached, have given a job-market related reason for not currently looking for a job. Persons employed part time for economic
reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. For further
information, see "BLS introduces new range of alternative unemployment measures," in the October 1995 issue of the Monthly Labor
Review. Beginning in January 2004, data reflect revised population controls used in the household survey.

http://www.nytimes.com/2004/12/03/business/03WIRE-JOBS.html

Pace of Hiring Slowed in November
By THE ASSOCIATED PRESS

Published: December 3, 2004


ASHINGTON (AP) -- U.S. employers pulled back on hiring as they entered the holiday shopping season, adding just 112,000 new jobs overall in November. It was the weakest gain in five months and about half of what economists had forecast.



November Job Growth Unexpectedly Soft (112,000)

WASHINGTON (Reuters) - A surprisingly soft 112,000 new U.S. jobs were created in November, the Labor Department (news - web sites) said on Friday, casting a shadow across an already downbeat holiday sales season with consumers apparently worried by scarce work and high oil prices.

The November figure -- the weakest since July -- came in well below Wall Street economists' forecasts for 180,000 new jobs, though the unemployment rate eased to 5.4 percent from 5.5 percent in October.

In addition, Labor lowered its estimates for job growth in both September and October. October's gain was marked down to 303,000 from an originally reported 337,000-job increase. The department cut September's total to 119,000 from 139,000.

[Kathy in Cambridge]

1. Even seasonal retail jobs are hard to come by

that's pretty bad.