The US created the least jobs in seven months, yet the unemployment rate fell

The US created the least jobs in seven months, yet the unemployment rate fell

The US economy created the least jobs in seven months in November, yet the unemployment rate fell. This was pointed out by data released by the US Department of Labor on labor market developments. According to the ministry, 245 thousand new jobs were created in the USA outside of agriculture in November, while in October their number increased by 610 thousand after a downward revision. Economists expected 469,000 new jobs to be created in the United States last month, based on original October data of 638,000 new jobs. The November figure represents weaker job creation for the fifth month in a row. At the same time, it is the lowest number of jobs created in the US since April this year, when the country struggled with the biggest problems due to the first wave of the new coronavirus pandemic. The current development was again affected by the pandemic, as the USA is recording a second wave and within it a sharp increase in the number of infected. Despite significantly weaker-than-expected job creation, the US unemployment rate fell in November. While it reached 6.9 percent in October, it was 6.7 percent in November. The result is better than expected by economists, who expected unemployment to fall to only 6.8 percent.