US jobless rate sinks to 4.2% as many more people find jobs - News Summed Up

US jobless rate sinks to 4.2% as many more people find jobs


The unemployment rate plummeted from 4.6% to 4.2% as a substantial 1.1 million Americans said they found jobs last month. The fall in the unemployment rate was particularly encouraging because it coincided with an influx of a half-million job-seekers into the labor force, most of whom quickly found work. “It looks like the supply constraints are easing a bit with the unemployment rate low and wage growth high” — two factors that often encourage people to search for work. The unemployment rate is calculated from a survey of households. Even as the jobless rate has steadily declined this year, the proportion of Americans who are working or searching for jobs has barely budged, at least until this month.


Source: Forbes December 03, 2021 18:12 UTC



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