Oh Look, Jobs!

December 10, 2023

by Karl Denninger Market-Ticker.org

Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate edged down to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and government. Employment also increased in manufacturing, reflecting the return of workers from a strike. Employment in retail trade declined.

Edged. Yeah, ok, two ticks is actually a material move, but who’s counting.

Here’s a nasty piece of work from the first couple of pages:

In November, health care added 77,000 jobs, above the average monthly gain of 54,000 over the prior 12 months. Over the month, job gains continued in ambulatory health care services (+36,000), hospitals (+24,000), and nursing and residential care facilities (+17,000).

How many of those were, oh…. nurses?