November Jobs Report

📊 November 2025 Employment Situation Report (BLS)

·       Employers added 64,000 jobs, beating modest forecasts.

·       Job losses in October were due to federal workers (-162,000) who took a severance package.

·       Job gains were concentrated in healthcare and construction

📈 October 2025 JOLTS Report

·       The October 2025 JOLTS report, released December 9, showed a slight rise in job openings to 7.67 million.

·       Hires and separations relatively stable, but notable shifts like falling quits in healthcare and rising layoffs in food services, indicating a mixed but cooling labor market with increased slack, despite headline stability.

The U.S. labor market showed continued slowing momentum in the latest BLS November 2025 employment report. Employers added 64,000 jobs, beating modest forecasts, but this came on the heels of a revised 105,000 job loss in October, largely tied to federal workforce reductions and survey disruptions from the recent government shutdown. The official unemployment rate rose to 4.6%, a four-year high, and broader measures of labor underutilization remain elevated, including the U-6 rate, which factors in discouraged workers and those in part-time work for economic reasons (KPMG analysis notes a jump in temporary layoffs and elevated U-6 readings).

Job gains were concentrated in healthcare and construction, while manufacturing and other sectors saw declines. Data collection issues from the shutdown complicate interpretation, but the broader picture points to stagnant net employment growth and rising slack in the labor market.

There are positive indications for temporary and contract work demand, a segment that often leads the recovery or absorbs labor when permanent hiring stalls. Staffing industry sources highlight that temporary and contract employment has been growing year-over-year, with measures like the American Staffing Association (ASA) Staffing Index showing modest gains in staffing jobs and new temporary assignments compared with 2024. Firms report that businesses increasingly rely on flexible talent in healthcare, professional services, and project-based roles. a trend consistent with cyclical labor market softness pushing employers toward contingent workers rather than long-term commitments. Madison customers, which are all independent staffing companies, have shown year-over-year growth in the 4th quarter.

For a deeper dive….

·       A more encompassing measure of unemployment (U6) that includes discouraged workers and those holding part-time jobs for economic reasons jumped to 8.7%.

·       Prime age labor force participation rate (ages 25-54) is 83.8%.

·       The overall labor force participation is 62.5%.  This is .9% below the level of February 2020.

·       In November, average hourly earnings for all employees on private nonfarm payrolls edged up by 5 cents, or 0.1 percent, to $36.86. Over the past 12 months, average hourly earnings have increased by 3.5 percent. In November, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.3 percent, to $31.76.

·       The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.3 hours in November. In manufacturing, the average workweek changed little at 40.0 hours, and overtime was unchanged at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours.

·       APD reported that 32,000 jobs were lost in November.

Source: ADP, BLS, CNBC, Fox News

https://www.bls.gov/news.release/archives/jolts_02092021.htm

https://www.bls.gov/news.release/empsit.nr0.htm

https://www.bls.gov/opub/mlr/2015/article/industry-employment-and-output-projections-to-2024.htm

JOB OPENINGS AND LABOR TURNOVER – October 2025

The number of job openings was unchanged at 7.7 million in October, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.1 million. Within separations, both quits (2.9 million) and layoffs and discharges (1.9 million) were little changed. 

This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month.

Job Openings

The number and rate of job openings were unchanged at 7.7 million and 4.6 percent, respectively, in October. The number of job openings decreased in federal government (-25,000).

Hires

In October, the number and rate of hires were little changed at 5.1 million and 3.2 percent, respectively.

Hires were little changed in all industries.

Separations

Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm.

In October, the number and rate of total separations were little changed at 5.1 million and 3.2 percent, respectively. The number of total separations decreased in health care and social assistance (-111,000) and in federal government (-34,000).

In October, the number and rate of quits were little changed at 2.9 million and 1.8 percent, respectively.

The number of quits was down by 276,000 over the year. In October, the number of quits decreased in accommodation and food services (-136,000), health care and social assistance (-114,000), and federal government (-25,000). Quits in federal government in September saw a series high of 46,000. In October, quits increased in arts, entertainment, and recreation (+38,000) and in information (+21,000).

The number and rate of layoffs and discharges in October were little changed at 1.9 million and 1.2 percent, respectively. Layoffs and discharges increased in accommodation and food services (+130,000) and in state and local government, excluding education (+23,000).

The number of other separations decreased to 255,000 (-99,000) in October.

Establishment Size Class

In October, establishments with 1 to 9 employees showed little change in job openings, hires, and separations rates. The quits rate increased in establishments with 5,000 or more employees, while the job openings, hires, layoffs and discharges, and total separations rates showed little change.

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The Job Openings and Labor Turnover Survey estimates for November 2025 are scheduled to be released on Wednesday, January 7, 2026, at 10:00 a.m. (ET).