- The labor market is indicating health job growth.
- The unemployment rate has fallen to 3.7%.
- If the market can stay stable, there is hope that a recession can be avoided.
The labor market is on the up and up with a gain in jobs and a dip in unemployment this month. This is one of the few labor market reports since 2020 that indicate health job growth.
According to the U.S. Labor Department’s job report for November 2023, employers added 199,000 jobs and the unemployment rate fell to 3.7%. The job market is continuing to be resilient despite fears of a recession.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the December pre-job report.