A bright spot was the U-6, or underemployment rate, which fell to 6.7 percent, according to Bloomberg News. This level was lower than at any point since at least 1994.
In Friday’s hiring data, besides reporting the healthy November gain, the government revised up its estimate of job growth for September and October by a combined 41,000.
U.S. employers added a solid 128,000 jobs in October, a figure that was held down by a now-settled strike against General Motors that caused several thousand workers to be temporarily counted as unemployed.
All told, the September jobs report is likely to keep the Federal Reserve on track to cut interest rates later this month for the third time this year to try to help sustain the expansion.
U.S. employers slowed their hiring in July, but added a still-healthy number of jobs. Average hourly earnings increased 3.2% from a year ago, up from annual gains of 3% in June.
Private sector employment in Indiana grew by 6,800 in June over the previous month and is up more than 37,000 over the year, the state said.
The proposed 17% increase would bring the premiums paid by companies to a level recommended by the federal government, which is meant to prepare the unemployment fund for the next recession.
The tepid job growth, along with rising pressures on the economy, makes it more likely that the Federal Reserve will cut rates in the coming months.
Friday's jobs report from the Labor Department showed that solid economic growth is still encouraging strong hiring nearly a decade into the economy's recovery from the Great Recession.
Private sector employment in Indiana grew by 3,500 in October over the previous month and is up more than 25,500 over the year, the state said.
The last major economic data before Tuesday’s congressional elections also showed that the unemployment rate remained at a five-decade low of 3.7 percent.
Indiana’s labor force has grown by 67,519 over the past six months, the largest six-month increase since 1995.
Private sector employment in Indiana fell by 2,500 in June, but is up more than 16,600 over the year, the state said.
Private sector employment rose by 1,300 in May and is up more than 26,600 over the year, the state said.
For many Indianapolis residents, the problem isn't finding work. It's landing employment that pays enough to lift them from poverty and provides a financial cushion to absorb daily life's inevitable setbacks.