Below, EPI senior economist Elise Gould offers her insights on the jobs report released this morning, which showed 199,000 jobs added in November. Read the full thread here.

Employment rose 199,000 in November, far exceeding what’s necessary to keep up with working age population growth, pulling more and more workers off the sidelines every month. Notable job gains as strikes resolve in both manufacturing and motion picture and sound recording.

— Elise Gould (@eliselgould) December 8, 2023

Year-over-year nominal wage growth for all private-sector workers held steady at 4.0% in November while wage growth for production/nonsupervisory workers ticked down to 4.3% over the year. The private-sector annualized average over the last 3 months is 3.4%. pic.twitter.com/qFCYAlvYsb

— Elise Gould (@eliselgould) December 8, 2023

The household survey confirms the strength exhibited by the payroll survey. Here, we can look under the hood of the labor market data and explore differences by gender, age, and race/ethnicity. As the unemployment rate dropped, the prime-age employment rate ticked up to 80.7%. pic.twitter.com/ftHbC91EeV

— Elise Gould (@eliselgould) December 8, 2023

As the overall unemployment rate dropped 0.2 percentage points so did the Black and Hispanic unemployment rates. Black unemployment remains higher than its low earlier this year and significantly higher than other groups. pic.twitter.com/93SOXm5TXr

— Elise Gould (@eliselgould) December 8, 2023