WASHINGTON, D.C. – The U.S. unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported Friday. However, the pace of improvement in the labor market has moderated in recent months as President-elect Biden called the report “grim” and “dire”.
The rate is down by 8.0 percentage points from its recent high in April but is 3.2 percentage points higher than it was in February. The number of unemployed persons, at 10.7 million, continued to trend down in November but is 4.9 million higher than in February.
Among the major worker groups, the unemployment rate for adult women (6.1 percent) declined in November. The jobless rates for adult men (6.7 percent), teenagers (14.0 percent), Whites (5.9 percent), Blacks (10.3 percent), Asians (6.7 percent), and
Hispanics (8.4 percent) showed little or no change.
Among the unemployed, the number of persons on temporary layoff decreased by 441,000 in November to 2.8 million. This measure is down considerably from the high of 18.1 million in April but is 2.0 million higher than its February level. The number of
permanent job losers, at 3.7 million, was about unchanged in November but is 2.5
million higher than in February.
In November, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 385,000 to 3.9 million, accounting for 36.9 percent of the total
unemployed, while the number of persons jobless 15 to 26 weeks declined by 760,000 to 1.9 million. The number of persons jobless 5 to 14 weeks and persons jobless less than 5 weeks showed little change in November at 2.4 million and 2.5 million, respectively.
The labor force participation rate edged down to 61.5 percent in November; this is 1.9
percentage points below its February level. The employment-population ratio, at 57.3
percent, changed little over the month but is 3.8 percentage points lower than in
February.
In November, the number of persons who usually work full time rose by 752,000 to 124.3 million, while the number of persons who usually work part time decreased by 779,000 to 25.4 million.
The number of persons employed part time for economic reasons was about unchanged over the month at 6.7 million but remains 2.3 million higher than the February level. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. This group includes persons who usually work full time and persons who usually work part time.
In November, the number of persons not in the labor force who currently want a job increased by 448,000 to 7.1 million; this measure is 2.2 million higher than in February. These individuals were not counted as unemployed because they were not actively looking for work during the last 4 weeks or were unavailable to take a job.
Statement by President-elect Joe Biden on the November Jobs Report and Continuing Economic Crisis
This is a grim jobs report. It shows an economy that is stalling. It confirms we remain in the midst of one of the worst economic and jobs crises in modern history.
Millions of people have lost their jobs or had their hours slashed. They’ve lost their health insurance or are in risk of losing it. One in six renters are behind rent. One in four small businesses can’t keep their doors open. An ongoing gap in Black and Latino unemployment remains too large. And, it’s deeply troubling that last month’s drop in overall unemployment in this report was driven by people dropping out of the labor market altogether — they’ve lost hope for finding a job or they’ve taken on full-time caregiving responsibilities as child care centers remain closed and their children learn remotely. Over the last three months, 2.3 million more people are in long-term unemployment, by far the largest increase on record.
This dire jobs report is a snapshot from mid-November, before the surge in COVID cases and deaths in December as we head into a dark winter. Just in October, cities are down 21,000 educators just as schools need more help in the fight against the pandemic. And if Congress and President Trump fail to act, by the end of December, 12 million Americans will lose the unemployment benefits they rely on to keep food on the table and pay their bills. Emergency paid leave will end. The moratorium on evictions will expire. States and cities will lose vital tools they need to help pay for testing and public health workers to fight COVID, to keep children and educators safe in schools, and to provide assistance to keep small businesses alive.
The situation requires urgent action. Americans need help and they need it now. I am encouraged by the bipartisan efforts in the Senate around a $900 billion relief package. In the weeks since the election ended, there were questions about whether Democrats and Republicans could work together. Right now, they are showing they can. Congress and President Trump must get a deal done for the American people.
But any package passed in the lame duck session is not enough. It’s just the start.
Congress will need to act again in January. As we inherit this economic crisis, Vice President-elect Harris and I are working on the plan we will put forward for the next Congress to move fast and control the pandemic, revive the economy, and build back better than before. And, we hope to see the same kind of spirit of bipartisan cooperation as we are seeing today.
There is no time to lose. Times are tough. But I know we can do this. There’s nothing beyond our capacity if we work together as one nation.
