Payrolls up only 245k, U3 only down 0.2 to 6.7%

Labor market progress continues to slow.

Private sector payrolls up by 344k, with federal government payrolls down 86k and state and local down 13k.

BLS notes that the misclassification issue would add 0.4 ppts to the unemployment rate.

That would make it 7.1% in Nov compared to 7.2% in Oct.

Yikes, leisure and hospitality only added 31k jobs!

145k of the 344k jobs added in November were from transportation and warehousing industries.

That's over 40% of all new private sector jobs

Prime-age EPOP flatlined in November.

Leisure & hospitality employment remains down a fifth from pre-pandemic levels.

Temporary unemployment declined in November and core unemployment ticked up.

Same signal from household and establishment survey: progress is stagnating

Job growth in Nov was strongest in middle wage tier jobs. Driven by strong shows by couriers and messengers & warehousing and storage.

But employment remains most depressed in low average-wage industries.

Total employment may still be down by almost 10 million, but some industries are adding jobs. November's leaders - couriers, messengers, warehousing - all had more employment than in February.

Wondering why Warner Bro is putting all its 2021 movies on HBO Max? The first line on this chart gives some context.

A vaccine will not re-open closed businesses or reimburse lost wages. In the absence of renewed fiscal relief or a jump in job growth in the months ahead, millions of people could be in for a dire winter. https://www.hiringlab.org/2020/12/04/november-2020-jobs-report/