Employers added 64,000 jobs in November, following a revised loss of 105,000 jobs in October, per the Bureau of Labor Statistics

US job growth cooled sharply in November, offering a clearer view of the labor market after months of disruptions from the 43-day government shutdown.

Employers added 64,000 jobs in November, following a revised loss of 105,000 jobs in October, the Bureau of Labor Statistics (BLS) reported. 

The unemployment rate rose to 4.6%, up from 4.4% in September and 4% at the start of the year, marking its highest level since September 2021. A broader measure that includes discouraged workers and those working part-time rose to 8.7%, its highest level since August 2021.

The data also showed that high-school graduates are not entering the workforce. Their unemployment rate climbed to 16.3%.

Revisions show earlier weakness
The BLS revised payroll gains for August and September down by a combined 33,000 jobs. These changes suggest the labor market weakened earlier than initially reported. The agency cautioned that shutdown-related survey issues increased uncertainty in October and November estimates.

Healthcare again led job growth, adding 46,000 positions. Construction saw 28,000 new jobs, while social assistance gained 18,000. These sectors continue to support employment even as broader hiring slows.

Government and private sector pressures
Federal government employment fell by 6,000 in November after a steep October drop. Since January, federal payrolls have been down 271,000. Transportation and warehousing lost 18,000 jobs, reflecting weaker demand.

What it means for the economy?
Analysts say the job market is clearly cooling, not collapsing. The slowdown supports the Federal Reserve’s recent rate cuts as officials weigh further moves in early 2026.

Retail sales report
The past two months’ retail sales report also came out yesterday, surprising economists.

The numbers were flat in October, contrary to analysts' expectations. 

Despite higher prices for food, housing, and imports, consumer spending held steady, driven by higher-income households. 

Core retail sales, excluding autos and gas, rose 0.8%, signaling continued support for GDP growth amid a widening income gap.