Employment Blog February 2022

This Employment Blog is taken from the Bureau of Labor Statistics, U S Department of Labor. Nonfarm payroll employment increased by 467,000 in January, and the unemployment rate was little changed at 4.0 percent. Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. Employment has increased by 19.1 million since April 2020 but is down by 2.9 million, or 1.9 percent, from its level before the onset of the coronavirus (COVID-19) pandemic in February 2020. Monthly job growth averaged 555,000 in 2021.

Leisure and hospitality continued adding jobs in January (+151,000). Employment in the industry grew by 2.4 million over the year but is down by 1.8 million, or 10.3 percent, from its February 2020 level. Within the industry, food services and drinking places (+108,000) and accommodation (+23,000) added jobs in January.

Professional and business services employment continued to grow in January (+86,000). Over the month, job growth occurred in management and technical consulting services (+16,000), computer systems design and related services (+15,000), architectural and engineering services (+8,000), and other professional and technical services (+7,000). Employment continued trending up in temporary help services (+26,000). Employment in professional and business services is 511,000 higher than in February 2020, largely in temporary help services (+185,000), computer systems design and related services (+161,000), and management and technical consulting services (+151,000).

In January, retail trade continued adding jobs (+61,000). Over the month, employment increased in general merchandise stores (+29,000); health and personal care stores (+11,000); sporting goods, hobby, book, and music stores (+7,000); and building material and garden supply stores (+6,000). Retail trade employment is 61,000 higher than in February 2020.

Job growth continued in transportation and warehousing in January (+54,000). Employment grew in couriers and messengers (+21,000), warehousing and storage (+13,000), truck transportation (+8,000), and air transportation (+7,000). Employment in transportation and warehousing is 542,000 above its February 2020 level, with particularly strong growth in 3 warehousing and storage (+410,000) and couriers and messengers (+236,000).

In January, employment rose by 29,000 in local government education, while state government education was essentially unchanged (-1,000). Private education employment continued to trend up over the month (+13,000). Since February 2020, employment is down by 359,000 in local government education, by 87,000 in private education, and by 31,000 in state government education.

Health care employment continued trending up in January (+18,000). Over the year, health care employment has increased by 175,000 but is 378,000 below its February 2020 level.

Employment in wholesale trade grew by 16,000 in January, with gains in both durable goods (+11,000) and nondurable goods (+8,000). Over the year, employment in the industry has increased by 156,000 but is 125,000 below its February 2020 level.

Employment showed little change over the month in other major industries, including mining, construction, manufacturing, information, financial activities, and other services.

Real average hourly earnings for all employees increased 0.1 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.7 percent in average hourly earnings combined with an increase of 0.6 percent in the Consumer Price Index for All Urban Consumers (CPI-U). Real average weekly earnings decreased 0.5 percent over the month due to the change in real average hourly earnings combined with a decrease of 0.6 percent in the average workweek.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment.