The November Jobs Report

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The U.S. economy added 266 thousand jobs in November, 2019.  Government accounted for 12,000 of those, meaning the private sector added a cool 254,000 employees.

This article was stimulated by one of the more entertaining Twitter accounts, Richard M. Nixon (@dick_nixon).  The guy behind this account is pretty well known so I’m not going to bother tracking him down.  Here’s what Mr. Nixon wrote:

Dick Nixon tweets

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The comment about temporary jobs prompted me to look into the sources of job growth.  But fi4rst let’s deal with the “GM strike ending” masstatement.  According to BLS, the actual increase in the number of jobs attributable to the end of the strike was 40.3 thousand, not 96 thousand:

Motor Vehicles and Parts finished

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So I delved into the details.  If you’re curious, click here to download my Excel workbook.  (You’ll notice that the percentages don’t add up to 100%.  I have no idea why, but the actual numbers get the correct totals.)

Percent of job growth

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Here’s the  short version. Education and health services accounted for 29.13 percent of jobs added. Manufacturing added 21.26%. lLeisure and Hospitality was third largest, contributing 17.72% of the total followed by Professional and Business Services with 14.96%.

Mr. Nixon should stick to politics.

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About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.

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