The US employment recovers at a slower pace in November

Intelligent Economics > Blog > The US employment recovers at a slower pace in November

In November the US economy gained 210,000 jobs according to a survey directed towards employers —this was the smallest increase this year. Compared to February 2020 there are still 3.9 million unrecovered jobs. On April 2020 there was a record loss of over 25 million jobs as the unemployment rate rose to 14.7%, higher than during the financial crisis last decade. Since then, recovery has been steady with a slight slowdown in November .

Although the job gain hast not been as quick as economists expected, the economy still seems to be heading in the right direction. The jobless rate fell from 4.6 too 4.2 after reaching 14.7% on April 2020. On a revision, the BLS reported a combined 82,000 job gain for the months of September and October.

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