{"id":"f-73cd9b4b27-35d3a009-5085-5eec-8f0a-e25123d42646","title":"US unemployment rate highest since 2021: Created 64,000 jobs in Nov, lost 105,000 in Oct","description":"The unemployment rate, though still modest by historical standards, has risen since bottoming out at a 54-year low of 3.4% in April 2023 but adding to the uncertainty is the growing use of artificial intelligence and other technologies that can reduce demand for workers.","timestamp":1765943129,"category":"international","headline":"US unemployment rate highest since 2021: Created 64,000 jobs in Nov, lost 105,000 in Oct","modifiedHeadline":"Job Losses Push US Unemployment To 2021 High","subCategories":["scid_edbc7f13"],"region":"IN","bundleMetaData":{"bundleId":"7b48871c-c993-4956-b43d-6f46f8e1b036","bundleTitle":"Today In India","cardData":null},"iabCategoryId":"89","fcSummary":"The US gained 64,000 jobs in November but lost 105,000 in October due to federal worker departures and Trump administration cutbacks. The unemployment rate rose to 4.6%, highest since 2021. Job creation has slowed down due to tariffs and high interest rates.","summary":"US unemployment rises to highest since 2021 amid tech fears. Job creation slows; Oct losses revised up. Economic anxiety deepens.","ctaUrl":"https://trends.glance.com/newz/astrology/IN/en/news9/f-73cd9b4b27-35d3a009-5085-5eec-8f0a-e25123d42646","sourceUrl":"https://www.news9live.com/business/biz-news/us-unemployment-rate-highest-since-2021-created-64000-jobs-in-nov-lost-105000-in-oct-2912513","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/Hb0q2k5FMtE0.webp","content":"

Washington: The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump

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administration, the government said in delayed reports. The unemployment rate rose to 4.6 per cent, highest since 2021. Both the October and November job creation numbers, released Tuesday by the Labor Department, came in late because of the 43-day federal government shutdown.

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The November job gains came in higher than the 40,000 economists had forecast. The October job losses were caused by a 162,000 drop in federal workers, many of whom resigned at the end of fiscal year 2025 on Sept. 30 under pressure from billionaire Elon Musk’s purge of US government payrolls.

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Labor Department revisions also knocked 33,000 jobs off August and September payrolls. Workers’ average hourly earnings rose just 0.1% from October, the smallest gain since August 2023. Compared to a year earlier, pay was up 3.5%, the lowest since May 2021. Healthcare employers added more than 46,000 jobs in November, accounting for more than two-thirds of the 69,000 private sector jobs created last month. Manufacturing shed jobs for the seventh straight month, losing 5,000 jobs in November.

Hiring has clearly lost momentum, hobbled by uncertainty over President Donald Trump’s tariffs and the lingering effects of the high interest rates the Federal Reserve engineered in 2022 and 2023 to rein in an outburst of inflation. American companies are mostly holding onto the employees they have. But they’re reluctant to hire new ones as they struggle to assess how to use artificial intelligence and how to adjust to Trump’s unpredictable policies, especially his double-digit taxes on imports from around the world.

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The uncertainty leaves jobseekers struggling to find work or even land interviews. Federal Reserve policymakers are divided over whether the labor market needs more help from lower interest rates. Their deliberations are rendered more difficult because official reports on the economy’s health are coming in late and incomplete after a 43-day government shutdown.

Labor Department revisions in September showed that the economy created 911,000 fewer jobs than originally reported in the year that ended in March. That meant that employers added an average of just 71,000 new jobs a month over that period, not the 147,000 first reported. Since March, job creation has fallen farther — to an average 35,000 a month.

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The unemployment rate, though still modest by historical standards, has risen since bottoming out at a 54-year low of 3.4% in April 2023. Adding to the uncertainty is the growing use of artificial intelligence and other technologies that can reduce demand for workers. “We’ve seen a lot of the businesses that we support are stuck in that stagnant mode: ‘Are we going to hire or are we not? What can we automate? What do we need the human touch with?”’ said Matt Hobbie, vice president of the staffing firm HealthSkil in Allentown, Pennsylvania.

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“We’re in Lehigh Valley, which is a big transportation hub in eastern Pennsylvania. We’ve seen some cooling in the logistics and transportation markets, specifically because we’ve seen automation in those sectors, robotics.” Worries about the job market were enough to nudge the Fed into cutting its benchmark interest rate by a quarter of a percentage point last week for the third time this year.

But three Fed officials refused to go along with the move, the most dissents in six years. Some Fed officials are balking at further cuts while inflation remains above the central bank’s 2% target. Two voted to keep the rate unchanged. Stephen Miran, appointed by Trump to the Fed’s governing board in September, voted for a bigger cut – in line with what the president demands. Friday’s report shows that “the labor market remains weak, but the pace of deterioration probably is too slow to spur the (Fed) to ease again in January,” Samuel Tombs, chief US economist at Pantheon Macroeconimics, wrote in a commentary.

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Because of the government shutdown, the Labor Department did not release its jobs reports for September, October and November on time. It finally put out the September jobs report on Nov. 20, seven weeks late. It published some of the October data – including a count of the jobs created that month by businesses, nonprofits and government agencies – along with the November report Tuesday. But it did not release an unemployment rate for October because it could not calculate the number during the shutdown.

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US unemployment rate highest since 2021: Created 64,000 jobs in Nov, lost 105,000 in Oct

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