December 2023 Jobs Report: A Look at November's Trends

Executive Summary

Job growth picked up slightly in November, with 199,000 jobs added — 150,000 in the private sector and 49,000 in the public sector. The unemployment rate fell to 3.7%, and while layoffs have risen since October, they remain below historical averages. The labor force participation rate increased slightly to 62.8%, remaining close to the pre-pandemic level (63.3%). Unemployed workers per job opening was at 0.75, and job openings fell to 8.73 million. Quits remained relatively unchanged, still at 5% above pre-pandemic levels.

The core business areas Aston Carter supports were impacted in November, with finance and insurance jobs decreasing by 4,100 and professional and business services jobs decreasing by 9,000.