#USJobsData

Latest Headlines (Q4 2024)

· Unemployment Rate: 4.0% (November 2024)

· Monthly Job Growth: +150,000 jobs (November 2024)

· Labor Force Participation Rate: 62.8%

Key Trends:

1. Slowing but Steady Growth - Job creation has moderated from 2021-2022 peaks but remains positive

2. Wage Growth Cooling - Average hourly earnings up 4.0% year-over-year (vs. 5-6% peak in 2022)

3. Sector Variations:

· Healthcare/Social Assistance: Strongest growth (+74,000 in November)

· Government: Steady hiring (+49,000)

· Retail/Trade/Transportation: Mixed results

· Information/Technology: Some weakness continuing

Historical Context:

· Pre-pandemic unemployment: 3.5% (Feb 2020)

· Pandemic peak: 14.8% (April 2020)

· Post-pandemic recovery: Rapid rebound through 2021-2022

Current Challenges:

· "Job Rich, Feeling Poor" - Employment high but inflation concerns persist

· Geographic Disparities - Some regions recovering faster than others

· Skills Mismatch - Employers struggling to find qualified workers in certain sectors

Federal Reserve Watch:

The job market strength influences Fed interest rate decisions - current data suggests potential rate cuts in 2025 if cooling continues.