The U.S. unemployment rate climbed to 4.6% in November, the highest level in four years, according to the first comprehensive jobs report issued after a prolonged federal government shutdown. The figure marks a rise from 4.4% in September, with no October data available due to administrative delays. The latest reading signals growing strain in the labor market, further underscored by a slowdown in wage growth to 3.5% year-over-year—the weakest pace since 2021. n nEmployers added 64,000 jobs in November, reversing a 105,000-job loss in October largely driven by a 168,000 reduction in federal employment. Private-sector hiring showed modest gains, with healthcare contributing over 46,000 positions and construction adding 28,000. However, manufacturing shed 5,000 jobs for the seventh consecutive month, and transportation and warehousing saw declines exceeding 17,000 roles. n nKevin Hassett, director of the National Economic Council, attributed the rising unemployment rate to more individuals re-entering the job market after federal workforce reductions, rather than widespread layoffs. He emphasized strength in private-sector employment, calling it consistent with trends seen throughout the year. n nThe White House highlighted select positive indicators, including increased labor force participation and claims of strong business investment under President Trump’s policies. However, it did not address downward revisions to earlier job figures or the growing number of workers reporting part-time status despite seeking full-time work. n nBlack workers faced a particularly sharp rise in joblessness, with unemployment reaching 8.3%, up two percentage points since the start of the year. This disparity highlights uneven impacts across demographic groups. n nDespite official optimism, many Americans continue to face difficulties in securing stable employment. Workers like Amy Beckrich, who lost her HR role in May, have applied to over 100 positions with minimal response. Her unemployment benefits recently expired, forcing household budget cuts. n nThe Federal Reserve recently lowered interest rates by 0.25 percentage points amid concerns over labor market deterioration, though three officials dissented—two citing persistent inflation above the 2% target, and one advocating for a larger cut. n nJerome Powell noted that job creation figures since spring may have been overstated by approximately 60,000 per month, suggesting the labor market’s cooling might be slightly less severe than reported. n nEconomists observe that while companies are not conducting mass layoffs, hiring appetite remains subdued due to uncertainty over trade policy and the increasing role of automation and artificial intelligence in reducing labor needs. n
— News Original —nU.S. Unemployment Rate Rises, a Warning Sign for the Economy n
“THE BEST IS YET TO COME!” the White House posted on social media. n nIn the first full jobs report since the federal shutdown, the government reported a rise in the jobless rate to 4.6 percent last month, up from 4.4 percent from the last gauge in September. The unemployment rate for November was the highest in four years. n nThe labor report also showed wage growth in November had slowed to a pace not seen since 2021, a period when the economy continued to grapple with the devastation wrought by the coronavirus pandemic. Further evincing the stress on Americans, more people reported that they were working part time, despite wanting to work full time, or that they wanted a job yet weren’t looking for one. n nOn Tuesday, the White House ignored or dismissed many of those findings, insisting that the economy remains strong under Mr. Trump’s watch. Its tone reflected the president’s own attitude, at a moment when polls increasingly show that voters are skeptical of his agenda and blame his administration for some of the troubles they now face. In recent days, Mr. Trump has sought to mount a new messaging campaign to recast his policies, with a speech planned in North Carolina this week. n nKevin Hassett, the director of the National Economic Council, attributed the uptick in the nation’s unemployment rate partly to the fact that more workers are now seeking jobs, driving up the rate, which captures people looking for work. n nAppearing on CNBC, he said that private-sector employment had been a source of strength. Overall, U.S. employers added 64,000 jobs in November, reversing a decline from October, a two-month period that saw the federal government shed 168,000 jobs. n n“I think that, from the private sector point of view, it’s just about what we’ve been getting all year — it’s solid upward trajectory,” he said. n nThe comments from Mr. Hassett — one of the candidates that Mr. Trump is considering as his next pick to lead the Federal Reserve — came as the administration unfurled a more detailed counterargument on social media. n nIn a series of unsigned posts, the White House Council of Economic Advisers heralded only select data points from the jobs report, as it sought to portray Mr. Trump’s policies as a success. It cheered the uptick in private-sector jobs, and the fact that more Americans “continue to come off the sidelines and re-enter the labor force.” n nBut the White House did not acknowledge that the report on Tuesday revised down the number of jobs initially believed to have been added in August or September. Nor did the administration comment on the difficulty that some workers had reported this fall in finding steady full-time employment. That includes Black workers, for whom the unemployment rate reached 8.3 percent, up two percentage points from the beginning of the year, the data show. n nThe White House further touted the fact that “investment is booming,” citing the fact that “firms are investing confidently in Trump’s economy.” The claim echoed the president’s view that his policies, particularly his tariffs and tax cuts, helped to spur more domestic production. n nConstruction jobs did rise by about 28,000 in November, the data show, but manufacturing jobs fell by about 5,000 and jobs in transportation and warehousing declined by more than 17,000. Mr. Hassett touted the “huge” construction numbers, in particular, as a sign of a forthcoming economic boom, adding that he is “bullish” that investments will yield manufacturing jobs later. n nAnd the Trump administration also argued that “average private sector weekly earnings are on track to rise to 4.2%” during Mr. Trump’s first year. In fact, the government found that wage growth slowed to 3.5 percent in November. The figure suggested that many Americans may not feel the benefit of bigger paychecks at a moment when prices remain stubbornly high.