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Jobs Report Reveals Continued Weakening of the Labor Market

In response to today’s jobs report, Center for Economic and Policy Research Senior Economist Dean Baker released the following statement:“The labor market continued to weaken in November. The unemployment rate rose to 4.6 percent, the highest level si…

In response to today’s jobs report, Center for Economic and Policy Research Senior Economist Dean Baker released the following statement:

“The labor market continued to weaken in November. The unemployment rate rose to 4.6 percent, the highest level since September 2021.The economy generated just 64,000 jobs in the last two months, all of them in healthcare. And wage growth fell to 3.5 percent over the last year, only slightly higher than the rate of inflation. The unemployment rate for Black workers rose to 8.6 percent, the highest since August of 2021. This a story of the continued weakening of the labor market that we have seen since early this year.”


This content originally appeared on Common Dreams and was authored by Newswire Editor.


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