US Job Market Swings: 105,000 Lost, Then 64,000 Gained in Delayed Report
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New data reveals a volatile period for the U.S. labor market, with steep job losses followed by a partial recovery.
Official statistics released Tuesday show an estimated 105,000 jobs were lost in October. The report, which was delayed, then showed a rebound of 64,000 jobs added in November.
This swing is linked to the federal government shutdown in October, which inflicted damage on employment. The November growth was stronger than many economists predicted.
Despite the gain, the headline unemployment rate continued to climb. It reached 4.6% last month, which is a four-year high.