U.S. Experiences Slowdown in Hiring Rate

Gain was slowest since last December. 

The U.S. economy added 210,000 jobs in November, indicating a decrease in hiring as the year nears a close. However, the labor market showed an early sign of loosening as almost 600,000 people joined the workforce. 

The slower pace of hiring last month is the smallest monthly gain since last December. Labor Department figures showed this followed an upwardly revised increase in October. 

Overall, the country is still 3.9 million jobs short of the pre-pandemic peak. And the nation is struggling with rising prices as inflation reached 6.2 percent for the year ending in October, higher than predictions and the highest level in three decades. Concerns remain over worker shortages as some businesses struggle to find employees. Consumer confidence is at a ten-year low. 

Federal Reserve Chairman Jerome Powell says the central bank will move more quickly toward raising its interest rate target to help slow inflation. 

As the Lord Leads, Pray with Us…

  • For the members of the Federal Reserve as they oversee America’s monetary policies. 
  • For U.S. officials seeking ways to support the jobs market, and for businesses looking for employees to hire. 

Sources: Wall Street Journal, Washington Examiner, Market Watch 


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