The Bureau of Labor Statistics has released its November employment report, with unemployment falling from 10.2 percent to 10 percent. Manufacturing is the biggest loser:

Total nonfarm payroll employment was essentially unchanged in November (-11,000). Job losses in the construction, manufacturing, and information industries were offset by job gains in temporary help services and health care. Since the recession began, payroll employment has decreased by 7.2
million. (See table B-1.)

Construction employment declined by 27,000 over the month. Job losses had averaged 117,000 per month during the 6 months ending in April and 63,000 per month from May through October. In November, construction job losses were concentrated among nonresidential specialty trade contractors
(-29,000).

Manufacturing employment fell by 41,000 in November. The average monthly decline for the past 5 months (-46,000) was much lower than the average monthly job loss for the first half of this year (-171,000). About 2.1 million manufacturing jobs have been lost since December 2007; the majority of
this decline has occurred in durable goods manufacturing (-1.6 million).

The NAM will have a statement later this morning.

Others note that the lower unemployment rate may result from people giving up the job search and leaving the labor market. Samuel Staley at the Reason Foundation also observes:

[We] need to be careful not to confusing stabilizing unemployment with real job creation. If the new jobless number is an indicator of the economy reaching its trough in the business cycle, meaningful job creation will require jump starting private investment that adds real economic value. That’s not a matter of redistributing dollars and spending in the economy. It’s about re-aligning investment priorities in ways that generate profitable returns for businesses creating products and services in line with the needs of businesses and consumers.

From the Bureau of Labor Statistics:

THE EMPLOYMENT SITUATION: JUNE 2009

Nonfarm payroll employment continued to decline in June (-467,000), and the unemployment rate was little changed at 9.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction.

As for manufacturing:

Employment in manufacturing fell by 136,000 over the month and has declined by 1.9 million during the recession. Within the durable goods industry, motor vehicles and parts (-27,000), fabricated metal products (-18,000), computer and electronic products (-16,000), and machinery (-14,000) continued to lose jobs in June. Since the recession began, employment in motor vehicles and parts has declined by 335,000, or about one-third.

Associated Press, “Obama: More work needed to create new jobs”

Be not discouraged. Washington Post, “Federal Agencies Could Add 120,000 Area Jobs”

The Associated Press, “New jobless claims rise unexpectedly to 627K“:

WASHINGTON (AP) — The number of people filing new jobless claims jumped unexpectedly last week, and the total unemployment benefit rolls rose to more than 6.7 million.

The Labor Department data released Thursday show jobs remain scarce even as the economy shows some signs of recovering from the longest recession since World War II.

The department said initial claims for jobless benefits rose last week by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000, according to Thomson Reuters.

The Employment and Training Administration’s release with the numbers is here. Meanwhile:

Other recent reports indicate the economy could be bottoming. The Commerce Department said Wednesday that orders to factories for durable goods such as computers, machinery and aircraft increased 1.8 percent in May, much better than analysts expected.

The Census Bureau’s news release on durable goods is here.

UPDATE (11 a.m.): Vice President Joe Biden, speaking to the Communications Workers of America on Wednesday: “With this package, we will create or save over 3.5 million jobs. In the first hundred days, we’ve created 150,000 jobs. In the next 100 days, we’ll create 600,000 jobs. This was a critical step in stopping the economy, which was in free fall 128 days ago.”

About 20 minutes into the video posted here.

Jeff Moad, executive editor of “Managing Automation,” notes investment plans by United Airlines, Intel and Exxon Mobil to urge manufacturers to prepare for recovery. In a blog post, “Manufacturing Out of the Recession,” he writes:

Such moves are certainly not without risk. True, the tide of bad economic news is slowing. But 345,000 more unemployed in the U.S. in May and a 9.4 jobless rate, plus many billions of toxic liabilities (these are not assets) remaining on banks’ books make it hard to predict when a turnaround will occur and just how rapid or robust the recovery will be.

Still, now would be a good time for manufacturers to begin to change the capital-preservation-at-all-costs, bunker mentality that has dominated over the past 18 months and position themselves for recovery.

How?

• Do some bargain hunting of your own.
• Rethink global supply chain risks and opportunities.
• Position yourself to continue to benefit from the efficiency gains you’ve put in place over the past 18 months.
• Create a real workforce development plan

With more details at each bullet.

Managing Automation’s blog is The Edge Blog.

For more evidence why planning for recovery is not completely quixotic, see the last news release from the NAM’s chief economist, David Huether, “Huether Says ‘Storm Clouds Are Starting To Part‘”

We’re doing our part. Today, we created or saved one job. By coming to work.