WASHINGTON – Acting Secretary of Labor Julie Su issued the following statement on the November 2024 Employment Situation report:
“Today, the Bureau of Labor Statistics reported that the American economy added 227,000 jobs in November, confirming what we know to be true: that this is a strong, stable economy and workers are benefiting. After accounting for 56,000 upward revisions to September and October data, the three-month average of payroll employment gains stands at 173,000, indicating a healthy labor market with low unemployment, delivering opportunities for millions of workers.
“Wage growth continues to outpace inflation, with nominal wages increasing by 0.4 percent in November and annual growth of 4.0 percent over the past 12 months. This means that most working Americans have more money in their pockets, across industries and occupations. And the unemployment rate remains at the lowest range we have seen in 50 years.
“As the Biden-Harris administration prepares to hand off one of the strongest economies in history to the next administration, we do so having created millions of good-paying jobs, strengthened the middle class and ensured broad-based growth following a pandemic that threated to endanger the United States’ position as the strongest economy in the world. This recovery was not promised, but rather it was delivered with strong leadership and investment in working people.”
