Monday, August 4, 2025

Latest

US Labour Market Weakening as November Hiring Falls to Slowest Pace Since July

As coronavirus cases continue to soar across the US with daily cases exceeding the 100,000 mark for 27 consecutive days, many states have been reverting back to some form of lockdown restrictions to curb the outbreak’s deadly spread. This in turn is beginning to slow down the progression of America’s economic recovery, as November private payrolls dropped to the slowest pace since July.

According to monthly payrolls report published by the ADP Research Institute, companies only hired 307,000 new workers in November, which is significantly below the 475,000 projected by economists surveyed by Dow Jones. The November payrolls data is somewhat of a serious drop from the revised 404,000 recorded in October, and is the smallest gain since July’s 216,000 increase.

A large portion of the hiring (139,000 jobs to be exact) came from companies that have anywhere between 50 to 499 workers, while smaller companies increased overall private payrolls by 110,000. However, the slowest hiring sprees were witnessed among large companies, which only added 58,000 new workers to their payroll. Moreover, service industries were responsible with providing the largest increase in jobs with 276,000, followed by leisure and hospitality, despite increasing restrictions on bars and restaurants, which added 95,000 positions.

In the meantime, the Department of Labour is anticipated to reveal that the US economy added 440,000 jobs in November, which is a moderate decline from the 638,000 new positions that were reported in October. Lastly, Dow Jones projects that the unemployment rate will drop from the current 6.9% to 6.7% in November.


Information for this briefing was found via the ADP Research Institute and the DOL. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

US Sheds Another 3.2M Jobs Last Week; More than 33M Over Last 7 Weeks

This morning the Department of Labor released the jobless claim data for week ended May...

Thursday, May 7, 2020, 09:04:12 AM

Job Vacancies Continue to Tumble, Canada Now Has 2.3 Unemployed Persons for Every Job Vacancy

Recent data from Statistics Canada reveals a continued decline in job vacancies across the country....

Monday, July 1, 2024, 03:16:00 PM

Canada’s Labor Market Suffers First Decline Since April

As a number of public health restrictions were tightened across Canada heading into the winter...

Friday, January 8, 2021, 02:45:00 PM

Canadian Federal Government Extends CERB Payments For 8 More Weeks

As mentioned earlier, the Canadian federal government has been pushing a plan to extend CERB...

Wednesday, June 17, 2020, 03:49:00 PM

US Jobless Claims Unexpectedly Increase From Pandemic-Low

First-time applications for unemployment benefits unexpectedly rose last week, as fears over the new Omicron...

Friday, December 17, 2021, 10:20:00 AM