U.S. Job Creation: Poor Showing by Labor Market in November

U.S. job growth was weaker than expected in November, well below estimates for the third time in the past four months. November payrolls rose by 210,000, well below the 573,000 anticipated by Wall Street and a disappointing showing following the 531,000 new jobs added the month prior.

Despite the big hiring miss, the unemployment rate fell to 4.2%, a 0.4 percentage point decline in spite of rising labor force participation, the Labor Department reported.

Construction

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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