November jobs report likely to show higher numbers

With just a few days before the U.S. Department of Labor releases the official November job report, economists are launching positive forecasts regarding employment over the past month. Following a 271,000 gain in October, job openings are now expected to reach 205,000. These numbers confirm that hiring is on the rise after a slower pace recorded at the end of the summer.

Jobs are spread throughout almost all industries, but the service sector is doing exceptionally well in terms of new jobs. Retailers, restaurants, banks and hospitals have been hiring massively over the last couple of months. The construction sector is also expanding but in a slightly slower pace, whereas hiring in manufacturing and energy companies is still on hold. Economists also forecast that the unemployment rate will remain steady at 5% or even decrease to 4.9%.

The official job report will be made public on Friday.

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