+263,000
in November
+600,000 jobs
Nov.
’21
Feb.
’22
+600,000 jobs
+263,000
in November
Nov. ’21
Feb. ’22
America’s jobs engine kept churning in November, the Labor Department reported Friday, a show of continued demand for workers despite the Federal Reserve’s push to curb inflation by tamping down hiring.Employers created 263,000 jobs, even as a wave of layoffs in the tech industry made headlines. That was only a slight drop from the revised figure of 284,000 for October.The unemployment rate was steady at 3.7 percent, while wages have risen 5.1 percent over the year, more than expected.The labor market has been surprisingly resilient in the face of successive interest rate increases by the Fed, adding an average of 323,000 jobs for the last six months.But economists found reasons for concern in the evidence that growth is now largely coming from service sectors like education, health care and hospitality, which powered November’s job gains. Hiring in industries most sensitive to risin …
