The Department of Labor (DOL) released an encouraging November Employment Situation Summary, known as the jobs report on Friday, December 6, 2024, showcasing robust growth in the U.S. labor market. The economy added 227,000 jobs in November, reflecting strong employment gains despite a slight increase in the unemployment rate to 4.2%. Key drivers of this job growth included recovery from hurricane disruptions and the resolution of a major strike that had temporarily sidelined workers in October. The health care sector, a consistent contributor to job creation, added 54,000 jobs in November—aligning with its 12-month average monthly increase of 59,000. Ambulatory health care services led the sector with 22,000 new jobs, including 16,000 in home health care services. Hospitals and nursing and residential care facilities also saw notable increases, adding 19,000 and 12,000 jobs, respectively. The report further highlighted upward revisions for two previous months. September’s job gains were revised up to 255,000 from 223,000, while October’s growth exceeded expectations, with 36,000 jobs added—24,000 more than initially reported.
