Kansas City Jobs Report

3 Things to Know About the National Jobs Report

The Bureau of Labor Statistics (BLS) reported the U.S. unemployment rate was little changed at 3.5%. 266,000 jobs were added in November, with notable gains occurring in health care and professional and technical services. With workers returning from the General Motors strike, employment additionally rose in the manufacturing sector.

Regionally, the Bureau of Labor Statistics breaks down the state and metro unemployment rates one month behind the national breakdown. Those numbers will be released mid-month every month.

Here are 3 other things to know about November’s jobs report:

The Labor Force Participation Rate: The labor force participation rate was little changed at 63.2% during November and the employment population ratio held at 61% for the third consecutive month. Today, with employers’ hands forced by a candidate-driven labor market in which it’s difficult to find sufficient candidates, most of America’s companies face a crucial decision: to loosen—or to not loosen—their hiring requirements for temporary workers— requirements such as education, experience, background checks and drug screening. We’ve released a report surveying 500+ hiring managers in the U.S. which will help you decide if loosening temporary job requirements is right for your company.

Wage Growth Accelerating: In November, average hourly earnings rose by 7 cents. It’s no secret that wages have lagged behind job growth amid a recovering economy, and a common question has been the following: When will many companies’ newfound financial health, compared to their compromised financial health during the recession, trickle down to their employees in the form of pay? It looks like the answer is now. Read The New York Times’ article “Why Wages Are Finally Rising, 10 Years After the Recession” for a detailed breakdown of U.S. wage growth.

Seasonal Gigs Becoming More: It’s not surprising that the seasonal gig economy is booming this time of year, especially with big companies like like UPS, Target, and Amazon looking for record numbers of people to manage the influx of seasonal business. What may come as a surprise, however, is just how many of those jobs are becoming permanent as a means to attract more candidates and to bulk up for long-term labor needs. “Clients are telling me they’re planning to convert as many as 20% more holiday workers to permanent employees than last year,” says Amy Glaser, a senior vice president at Adecco. “In this tight job market, with unemployment so low, companies are having to get creative about exploring more sources of talent, and this is part of that effort.”