Job Quality Instant Report: Job Creation and Job Quality are up in November
Total non-farm payroll employment rose by 266,000 jobs in November, substantially above the median market expectation of 185,000.
Within the private sector, goods-producing employment (mining and logging, construction, and manufacturing) increased by 48,000 jobs, while the service-providing sector created 206,000 new jobs. The gain in manufacturing jobs was aided by a bump from the 46,000 striking GM workers returning to work, in addition to those impacted on the supply chain.
The JQ-Instant Report shows a reading of 47.76. Of the 254,000 private sector jobs added in November, 52.24% were in high quality sectors and 47.76% were in low quality sectors. The reading is down from a spike of 83.31 in October. Likely that the October/November fluctuation is attendant to the GM workers leaving and re-entering.
The full JQ Instant report, including methodology, can be viewed here. The full explanation of the US Private Sector Job Quality Index can be found here.
