Chart of the Day: Net New Jobs in November

The American economy gained 155,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at an anemic 65,000 jobs. The unemployment rate stayed steady at 3.7 percent.

There was a big drop in the number of people who work part-time for non-economic reasons (i.e., they work part-time by choice), but it wasn’t clear what happened to them. Did they quit entirely and go back to housekeeping, or did they take up full-time work? Its unclear from the other numbers, but either way it’s probably a measure of a fairly strong economy.

Earnings of production and nonsupervisory workers increased at an annual rate of 3.8 percent. With inflation running at about 2.5 percent recently, that’s a real annualized increase of 1.3 percent. Not bad.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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