November Payrolls Rise; Unemployment Rate Holds at 5%

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.S. payrolls rose by 215,000 jobs in November and the nation’s unemployment rate held at 5%, the Labor Department reported Friday.

The jobs gain was the biggest since July and the economy added 13,000 more jobs than previously reported, Labor said.

Analysts had forecast payrolls to grow by 210,000 and for the unemployment rate to hold steady at 5%, Bloomberg reported.

Because employment levels drive so much economic activity, an increase in employment can help consumer confidence and spending patterns, which affect trucking demand.

Manufacturing employment rose by 11,000 jobs, compared with a 15,000 drop in September. The rise exceeded economists’ forecasts of 5,000 new factory jobs, Bloomberg reported.

Service-industry employment, which includes retailers, banks and government agencies, rose by 165,000 following a 10,000 decline in October.

etailers, who typically add more workers in November for the holiday season, added 8,500 jobs, while temporary help services jobs rose by 5,200.

Construction employment jumped by 37,000, Labor said.

The manufacturing workweek fell 12 minutes to 40.8 hours, and overtime fell 6 minutes to 4.5 hours.