US Adds 210,000 Jobs In November, Unemployment Falls To 4.2%

The US economy added 210,000 jobs in November, coming much lower than market estimates, but the unemployment rate fell to 4.2%, the Department of Labor announced on Friday.

The market had estimated that nonfarm payrolls would see an increase of 550,000 in November, while job additions for October were revised up by 15,000, from 531,000 to 546,000, according to data by the Bureau of Labor Statistics.

The unemployment rate decreased by 0.4 percentage point to 4.2% in November, beating the market expectation of 4.5%. It stood at 4.6% in October.

The number of unemployed individuals in the US has also continued to decline, down 542,000 to 6.9 million last month.

Due to COVID-19, more than 22 million people in the world's largest economy lost their jobs in March and April 2020. -