Unemployment Rate Holds at 4.7%
The unemployment rate held at 4.7% for a third straight month in November, and payrolls rose by 94,000 jobs, the Labor Department said Friday.
The jobs gain, which followed a 170,000 increase in October, was higher than economists’ forecasts of 80,000 jobs, while the unemployment rate was in line with predictions, Bloomberg reported.
Manufacturers’ payrolls fell by 11,000, following a 15,000 downturn in October, Labor reported.
Service industries added 127,000 workers, down from a gain of 192,000 the previous month.
The unemployment-rate gauge is based on a survey of households. The number of payroll jobs added is determined by a separate survey of business and government establishments.
