Kansas City Jobs Report

5 Things to know about the national job report

The Bureau of Labor Statistics reported November’s unemployment rate remained flat at 3.7% with 155,000 jobs added. This is about 35,000 jobs shy of expert’s predictions of 190,000 job additions, though some experts suggest the California wildfires and Midwest snowstorms may have had some impact on November’s numbers.

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.

September, October and November’s 3.7% unemployment rates mark the lowest unemployment has been since 1969, with November marking the 98th month in a row of job growth – a record-breaking streak.

Perhaps the most noteworthy news of November (and the question likely on everyone’s minds this morning): how will the closing of car assembly plants, like General Motors in states like Michigan, Ohio, and Maryland, affect the overall economy?  And is the future of American auto plants shifting once again? Only time will tell, though The New York Times reports that overall the American auto industry has added nearly 350,000 jobs since it’s recession days, and any additional decreases could be jeopardous.

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

1. Breaking Gartner Research: As told to The New York Times, Gartner recently released it’s quarterly employee survey, revealing two important findings: workers aren’t as willing to go above and beyond for their employers, and they’re not as fearful about changing jobs. Gartner credits employers not rewarding workers for their efforts (it takes an average of four and a half years to get a promotion today, compared to two and half years just twelve years ago,) causing employees to take the risk of job hopping in search of better compensation. Read more about the survey here.

2. Wage Growth: Average hourly earnings also grew another .2% in November (6-cents,) bringing earning growth to 3.1% year-over-year. According to USA Today, employers will continue to bump up wages as they increasingly struggle to find qualified workers, and our own research indicates this same trend. We sat down with our Senior Vice President, Bill Ravenscroft, to discuss the future of wages in America, and what employers need to know as they prepare compensation plans for 2019. Read the full interview here.

3. Blue Collar Burst: Blue collar jobs – specifically those in manufacturing, construction, and mining – have added jobs every month for more than a year now. In November alone, manufacturing contributed 27,000 of the job increases, while transportation and warehousing added 25,000 jobs. While the manufacturing industry is more affected by ongoing trade tensions and tariffs, for now, the industry remains strong.