Newport Beach, CA Jobs Report
U.S. economy added back fewer jobs than expected in November, while the unemployment rate fell further than anticipated to the lowest since February 2020. The unemployment rate fell to 4.2 percent from 4.6 percent.
Despite the solid rehiring throughout the year, labor force participation remains short of pre-pandemic levels. While the share of Americans working or looking for jobs didn’t tick up as expected in September and October, some economists say November’s solid labor force gain could foreshadow further advances in the coming months.
*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.
BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.