US employers added another 210,000 jobs to the economy in November, far fewer than expected, the Bureau of Labor Statistics reported Friday. It was the smallest number of jobs added to the US economy since December 2020, when the economy actually shed jobs amid a surge in Covid cases.
But even with a smaller-than-expected number for November, job gains this year have totaled more than 6 million,"putting us well on track for a full recovery by the end of 2022," according to Elise Gould, senior economist at the Economic Policy Institute. While Friday's main number was decidedly disappointing at first glance, the US economy has added more than 1 million jobs over the past three months, signaling that the recovery continues to move along.
"You've gotta get under the hood of these high frequency monthly reports," a senior White House official told CNN Business."We focus on the averages over numerous months."It's true that one month does not a trend make, and revisions over the past months — the summer in particular — have painted a much more positive picture than the dire jobs situation government economists one portrayed.
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