The Bureau of Labor Statistics (BLS) reports that the U.S. economy added 227,000 jobs in November. These gains exceed economists’ projections that employers would add between 200,000 and 215,000 jobs.
The latest jobs report also notes that new job creation in September and October was higher than previously reported — by 56,000 positions.
Employers in private education and health services reported robust payroll expansion last month, adding 79,000 jobs. The leisure and hospitality sector also experienced solid job growth last month, adding 53,000 jobs.
The BLS reports that these industries saw significant job gains in November as well:
Government: 33,000 jobs added
Professional and business services: 26,000 jobs added
Manufacturing: 22,000 jobs added
Financial activities: 17,000 jobs added
Construction: 10,000 jobs added
Some industries saw payroll contraction last month — most notably, retail trade. Employment in that sector decreased by 28,000 jobs in November.
The November jobs report from the BLS shows the national unemployment rate was 4.2% last month, ticking up from 4.1% in October. Economists had projected that the rate would hold steady.
The unemployment rate for college-degreed professionals who are 25 or older — the workers most highly sought-after by many employers — continues to trend well below the national average. It was 2.4% in November, down slightly from 2.5% the previous month.
Other BLS data shows many highly skilled jobs in accounting and finance, technology, legal, marketing and creative and administrative services have even lower unemployment rates, indicating the market remains tight for specialized roles.
Many companies are focused on year-end initiatives, while also making plans and setting budgets for 2025, including for hiring. Easing inflation, lower interest rates and the conclusion of the U.S. presidential election are among the factors contributing to increasing employer confidence.
The latest Job Openings and Labor Turnover Summary from the BLS shows there were 7.7 million job openings in the U.S. at the end of October, up from 7.4 million in September. The BLS also reports that the voluntary quits rate climbed to 2.1%, its highest level since May 2024. This uptick suggests more workers are feeling confident about their prospects in the job market and are ready to seek new opportunities.
However, the hiring landscape is likely to remain challenging in early 2025 given the tight labor market, persistent skills shortages and rising demand for specialized expertise in areas such as AI.
Employers should be prepared to move swiftly to secure in-demand talent, or they could easily miss the opportunity to make a great hire. Four in 10 hiring managers at small and midsize businesses already worry that prolonged hiring cycles could result in losing top candidates to competitors, according to workplace research from Robert Half.
The 2025 Salary Guide From Robert Half covers hiring and compensation trends across seven professional fields: finance and accounting, technology, marketing and creative, legal, administrative and customer support, healthcare, and human resources.
Our annual guide features exclusive data and input from employers and workers, and from our recruiters who staff tens of thousands of jobs each year. The Salary Guide can be a valuable resource, whether you’re launching a job search, actively hiring talent or developing a staffing strategy for your business.
Robert Half’s Demand for Skilled Talent report delivers detailed insight on trends in the hiring market. Learn what staffing issues keep managers up at night, three hiring mistakes to avoid, and strategies employers are using to meet critical skills gaps in their workforce head-on.
