The November 2021 Jobs Report was released last week, and according to experts, the economy missed the mark.
Dow Jones estimated that November would show a gain of 573,000 jobs. Instead, the report showed a meager 210,000 jobs were added to the economy in the month of November.
Analysts point to the slowdown as a sign that hiring has started to slow even before news of the latest COVID-19 threat, the Omicron variant, was released.
Professional and business services, transportation and warehousing were among the leaders, while the retail sector lost jobs despite the kickoff of the holiday shopping season. Despite November’s meager jobs numbers, the economy did experience growth and the unemployment rate fell to 4.2%.
Market Recap Week of 11/29/2021 Through 12/03/2021 – Daily Flash Briefing