"HORSLEY: This latest report suggests they were. It shows that employers added only 64,000 jobs in November. And a lot of those jobs were in health care, which tends to be pretty recession-proof, while more sensitive industries like manufacturing and transportation lost jobs during the month. Overall, it seems clear the pace of hiring has slowed pretty sharply since the beginning of the year."
"LAURA ULLRICH: It just really feels very stagnant, sluggish, still this kind of low-hire, low-fire environment. HORSLEY: Low-hire, low-fire means a lot of people just feel stuck. Because of the government shutdown, we also got the October jobs numbers yesterday, more than a month behind schedule. And that report showed a net loss of jobs in October, although that was primarily because that's when a lot of federal workers who took buyouts earlier in the year formally dropped off the government's payroll."
"An overdue report from the Labor Department shows signs of weakness in the job market. US employers added just 64,000 jobs last month, and the unemployment rate rose to its highest level in more than four years. MICHEL MARTIN, HOST: The U.S. job market is downshifting. Employers are adding fewer jobs now than they were at the beginning of the year, and the jobless rate is inching up. So can people still pay their bills?"
Employers added just 64,000 jobs in November, with many of those positions concentrated in health care while manufacturing and transportation lost jobs. The unemployment rate climbed to 4.6%, the highest in more than four years. Hiring pace has decelerated markedly since the start of the year, producing a low-hire, low-fire labor environment that leaves many workers feeling stuck. October payrolls, released late due to the government shutdown, showed a net loss primarily because federal workers who accepted buyouts were removed from payrolls. The Federal Reserve cut interest rates amid concerns about the softening labor market.
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