BLS’s November 2023 report registered a 199,000 new positions. (Above the 130-150,000 range estimated increase needed on a monthly basis to stay-up with growing demographics). However, the non-seasonally adjusted construction unemployment rate came-in at 4.8 percent for November. [The new unemployment figure is up nearly a full percentage or 0.8 basis points vs. October; and 0.9 basis points above last year’s November 2022 level].  
 
General unemployment slipped back down 0.2 to 3.7 percent. (Conversely, “unemployed persons” was up to 6.3 million per the government count). The “labor force participation rate” inched up to 62.8 percent. [NOTE: The “labor force participation” rate “typically” works inversely to the overall unemployment figures. Meaning: as it deteriorates/gets worse or smaller, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer counted as unemployed by the DOL).  The “employment to population ratio” bounced back 0.3 to 60.5 percent. [Both measures haven’t reached their pre-Covid levels yet; if people were actually seeking jobs, the unemployment rate would be approximately 5.0% ].  Average hourly earnings continue to increase, now standing at $29.30 for private sector production and nonsupervisory employees.     SEE Workforce Statistics Chart