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Marketplace Morning Report

The November jobs report, finally

Marketplace Morning Report

American Public Media

News, Business

4.5808 Ratings

🗓️ 16 December 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

How many jobs did the U.S. economy gain or lose last month? We'll find out later this morning. The numbers are about a week late, as the folks at the Bureau of Labor Statistics needed a minute to catch up after the government shutdown. Economists' expectations are low. Then, an investigation in New York looks into allegations of systemic fraud big banks are facing over foreclosure auctions. We'll help you understand the story.

Transcript

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0:00.0

It's finally happening from Marketplace.

0:05.0

I'm Sabree Beneshore in for David Bruncaccio.

0:08.0

How many jobs did the U.S. economy gain or lose last month?

0:13.0

We are going to find out in a little less than two hours.

0:16.0

The numbers are about a week late.

0:18.0

The folks at the Bureau of Labor Statistics needed a minute to catch up after the government shutdown.

0:23.1

The shutdown is also the reason why we will never get a full October jobs report. Instead, we'll get just a piece of it.

0:29.6

Economists have an idea of what the November numbers are going to look like. 40 to 50,000 jobs added, with an unemployment rate of about 4.4%.

0:38.7

But this report is just a first pass.

0:42.3

It'll get revised a few times, as time goes on.

0:46.2

And as Marketplaces Mitchell Hartman reports, the actual final numbers might be a little more dismal.

0:52.8

While BLS delayed its monthly jobs reports,

0:56.0

some private economic outfits were filling the data gap. Rovellio Labs estimated employers

1:02.1

caught 9,000 jobs in November, says chief economist Lisa Simon. So not a huge decline,

1:09.0

basically hovering around that, you know, zero growth mark.

1:13.2

And the sector's shedding jobs, not promising for the holiday shopping and eating out season.

1:19.4

Leisure and hospitality, retail trade, transportation, warehousing and manufacturing.

1:23.9

So all of these blue-collar sectors.

1:27.2

Small business HR firm Homebase saw retrenchment in November as well, with worries mounting

1:33.0

about prices and tariffs, says CEO John Waldman.

1:37.0

We saw a lot of conservatism from small businesses pulling back on both team sizes and ours.

1:44.3

Also, labor market pressures are now mounting on consumers, says Chapman University

...

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