Industry Insights

November Unemployment Update

By: Sia Zou & Joe Wilkie
Dec 10, 2020 • 4 min read

November Unemployment Update:

In November of 2020, it appears that the U.S. Unemployment levels have begun to plateau. From October, the unemployment rate was 6.9%, which has only tapered to 6.7% this month. While the numbers were not what most analysts expected, November was still the 7th consecutive month of job growth. Although these numbers did not decline the way we would have hoped, there is still a positive trend among nearly all unemployment rates across the board with the November unemployment update.

The JobGet team has compiled a comprehensive report, which you can browse through and download below! For previous months’ updates, take a look at the reports here.

JobGet Unemployment Report November 2020 – v3

Summary:

The unemployment rate in November 2020 reached 6.7%, trending down from the previous months since peak unemployment in April, with a rate of 14.7%.

The number of permanent jobs lost still rises, and the number of people who have been unemployed for more than 6 months has reached 3.9 million. As COVID cases continue to rise in the third wave that the U.S. is experiencing, small businesses, restaurants, and retail stores may continue to suffer. However, promising studies and news regarding the COVID vaccine will hopefully bring respite to these industries.

Unemployment has continued to decrease since April among all demographics, barring this month’s slight uptick in unemployment among teens. Nearly all industries also saw a positive trend, thanks to the upcoming holiday season. The economy added 245,000 jobs lead by transportation and warehouse roles that have experienced continued growth. The shift from in-store to online holiday shopping significantly supported this trend. In addition, essential companies such as Target, CVS, and FedEx have announced large hiring events and bonuses for new employees during this season.

Perseverance is key during these difficult times. For helpful content, check out the rest of our blog or our YouTube channel, filled with videos and articles on optimizing your job search.

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