The US economy added 199,000 jobs in November.
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The US economy added 199,000 jobs in November.

In addition to actors and autoworkers coming off picket lines, the US economy posted another solid month of job growth.

According to Bureau of Labor Statistics data released Friday, 199,000 jobs were added in November, and the unemployment rate fell to 3.7% from 3.9% the month before.

WorkingNation’s president, Jane Oates, former Labor Department official and president of the nonprofit, says the economy is still humming along. The last two weeks have been filled with doom and gloom about how this will be a terrible day. It was a much better day than expected.”

Participation in the labor force climbed 0.1 percentage points to 62.8%, returning to its highest level since the pandemic began. According to Glassdoor’s lead economist Daniel Zhao, the increase in participation rates is a “positive underlying context for the decline in unemployment rates.”

According to the Bureau of Labor Statistics, the health care sector added 93,200 jobs last month, while the government added 49,000 jobs. The return of striking autoworkers lifted motor vehicle and parts employment by 30,000 jobs, too, due largely to the return of striking autoworkers.

Furthermore, the Screen Actors Guild strike resolution resulted in the addition of 17,200 jobs in the motion picture and sound recording industries.

Overall, the BLS predicted that 35,000 workers would return to the labor market after strikes: The agency estimated that 61,000 workers had been absent due to labor disputes, compared to 96,000 in May.

According to the CPI, November’s job gains are in line with monthly gains of 183,000 jobs during the decade preceding the pandemic. As a result, job growth is well above the “neutral rate,” or what’s needed to keep up with population growth.