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138

US lost 105,000 jobs in October and added 64,000 in November, according to delayed data (www.theguardian.com)

submitted 4 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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Data shows the headline unemployment rate continued to climb and hit 4.6%, a four-year high, last month

The US labor market grew by more than expected last month, recovering some of the damage inflicted by the federal government shutdown, according to official data.

An estimated 105,000 jobs were lost in October, and 64,000 were added in November, a highly-anticipated report showed on Tuesday.

Jobs growth was higher in November than anticipated by many economists, with a consensus forecast of some 40,000 jobs added. But the headline unemployment rate continued to climb – and hit 4.6%, a four-year high, last month.

The latest jobs numbers, typically released monthly, were delayed due to the government shutdown. They land amid significant uncertainty surrounding the strength of the US economy.

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[–] Fit_Series_573@lemmy.world 3 points 4 months ago* (last edited 4 months ago)

Only ones that belive most of this anymore are the ones that don't go out and interact with the public or dont read/watch much outside of their entertainment echo chamber, which is still a lot of people but they aren't thinking much outside of the headlines. The labor market is shit right now for anyone that's actually looking for work. From my experience on this lots of employers are interviewing, yes there are multiple rounds in the most basic jobs lately, to then get offered wages so low it's better to go in the gig market and cater to the wealthy.

I wish I was joking but when this was ongoing last year I did over 50 interviews with dozens of companies hr departments, not recruiters, to be offered wages lower than what indeed and glassdoor data showed others were being paid pre 2024. I did sales so seeing base salaries so low and commission rates lowered compared to before it's was an early sign these companies are either low on cash from lack of spending or a greater push towards outsourcing labor oversees like my last 2 employers before that did since they can pay $2 an hour to have someone make cold calls all day in Vietnam and have the older folks in the company take the leads and keep the commissions to afford their bloated lifestyles post covid.

The same is for the Neverending growth of the publicly traded companies that are forced to keep finding ways to spend less so they have higher payouts/dividends for the same folks in that older generation with bloated lifestyles. Sadly that "best" way to lower spending is to lay off workers and then next year a couple more then a couple more as AI (really offshoring) takes them all like the manufacturing jobs.