The only reason why there hasn't been as many jobs shed in November is the Christmas shopping season. That is what is keeping employers from shedding the normal amount of jobs and after the season is over its going to be a huge increase in job cuts.
Economists know this. Which is why decades ago they came up with a technique called "seasonal adjustment" which filters out regular, predictable ups and downs in the labor market and in price changes. The official released monthly statistics are all seasonally adjusted so things like Christmas hiring don't obscure the underlying trends.
Looking at the
Non-farm Payroll numbers (the official Employment statistics) we see that the Unadjusted preliminary level of non-farm payroll employment went from 132,143,000 to 132,223,000 an INCREASE of 80,000. But most of that is due to seasonal hiring. So after Seasonal Adjustment, the preliminary numbers show a change from 131,007,000 to 130,996,000, a DECREASE of 11,000.
In other words, the number of jobs went up, but not by as much as they usually do in November, so the underlying trend is still a decrease.
So, no, it's not the Christmas shopping season that made the decrease so low, the decrease is what we're left after we take away the Christmas influence...which caused an increase.