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  • Writer's pictureNick Andriacchi

inside the jobs numbers



Analysis of the November Employment Report


  • Prime age labor force participation rate (ages 25-54) was up this month by .3% to 80.9%. While the number has improved since April, it is still down by 1.9% year-over-year.


  • The overall labor force participation edged down to 61.7%. This is 1.9% below its February level.

  • Average hourly earnings for all employees on private nonfarm payrolls increased by 8 cents to $29.58.

  • The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in November. In manufacturing, the workweek decreased by 0.2 hour to 40.3 hours, and overtime decreased by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 34.2 hours.

JOB OPENINGS AND LABOR TURNOVER – OCTOBER 2020 HIGHLIGHTS


  • The number of available positions increased to 6.65 million during the month from a revised 6.49 million in September, the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday. The median estimate in a Bloomberg survey of economists was for 6.3 million vacancies. Openings that involve workers recalled from layoffs or positions that are only offered internally are not counted in the figure. Job openings increased in health care and social assistance (+122,000) and state and local government education (+23,000).


  • JOLTS Recap continued: In October, the number and rate of hires were little changed at 5.8 million and 4.1 percent, respectively. Hires decreased in wholesale trade (-81,000), other services (-74,000), and federal government (-12,000). The number of hires was little changed in all four regions.


  • In October, the number of total separations increased to 5.1 million (+263,000). The total separations rate was little changed at 3.6 percent. The total separations level increased in federal government (+109,000), largely the result of separations of temporary 2020 Census workers. Total separations increased in the Northeast region.


  • Over the 12 months ending in October, hires totaled 70.4 million and separations totaled 76.1 million, yielding a net employment loss of 5.7 million. These totals include workers who may have been hired and separated more than once during the year

· Private payrolls rose by 365,000 in October, according to a report from ADP.

Source: US Bureau of Labor and Statistics

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