US adds 263,000 jobs in November, unemployment steady at 3.7%

By Ovunc Kutlu

ISTANBUL (AA) – The US economy added 263,000 jobs in November, above the market estimate, while the unemployment rate stood steady at 3.7%, the Labor Department announced on Friday.

The market expectation for nonfarm payrolls was a 200,000 gain in November.

Job additions for October was revised up by 23,000, from 261,000 to 284,000, according to data from the Bureau of Labor Statistics.

The unemployment rate, on the other hand, remained unchanged at 3.7% in November, in line with the market estimates.

The number of unemployed people in the US also remained steady – around 6 million in November.

Both the labor force participation rate at 62.1% and the employment-population ratio at 59.9% were little changed last month.

Due to the coronavirus pandemic, more than 22 million people in the world’s largest economy lost their jobs in March and April 2020.