Employment Blog July 2022
This Employment Blog is taken from the U S Department of Labor, Bureau of Labor Statistics. Nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent. Notable job gains occurred in professional and business services, leisure and hospitality, and health care. Total nonfarm employment is down by 524,000, or 0.3 percent, from its February 2020 level before the onset of the coronavirus (COVID-19) pandemic. Private-sector employment has recovered the net job losses due to the pandemic and is 140,000 higher than in February 2020, while government employment is 664,000 lower.
Job growth continued in professional and business services in June (+74,000). Employment rose in management of companies and enterprises (+12,000), computer systems design and related services (+10,000), office administrative services (+8,000), and scientific research and development services (+6,000). 2 Employment in professional and business services is 880,000 above its February 2020 level.
In June, leisure and hospitality added 67,000 jobs. However, employment in the industry is down by 1.3 million, or 7.8 percent, since February 2020. Job growth continued in food services and drinking places in June (+41,000).
Employment in health care rose by 57,000 in June, with job growth in ambulatory health care services (+28,000), hospitals (+21,000), and nursing and residential care facilities (+8,000). Employment in ambulatory health care services is 260,000 above its pre-pandemic level. Compared with February 2020, employment is down by 57,000 in hospitals and by 379,000 in nursing and residential care facilities. Employment in health care overall is 176,000 below its February 2020 level.
Transportation and warehousing added 36,000 jobs in June, with gains in warehousing and storage (+18,000) and air transportation (+8,000). Employment in transportation and warehousing is 759,000 higher than in February 2020.
In June, manufacturing added 29,000 jobs, mostly in nondurable goods (+18,000). Manufacturing employment has returned to its pre-pandemic level.
Employment in information rose by 25,000 in June, including an increase of 9,000 in publishing industries, except Internet. Employment in information is 105,000 higher than in February 2020.
In June, employment in social assistance grew by 21,000. Employment continued to trend up in child day care services (+11,000) and in individual and family services (+10,000). Employment in social assistance is 87,000 below its February 2020 level.
Wholesale trade added 16,000 jobs in June, with half of the gain in nondurable goods. Employment in wholesale trade is 18,000 lower than in February 2020.
In June, mining employment increased by 5,000, with a gain of 2,000 in oil and gas extraction. Since a recent low in February 2021, mining employment has grown by 86,000.
Employment showed little change over the month in other major industries, including construction, retail trade, financial activities, other services, and government.
Real average hourly earnings for all employees decreased 1.0 percent from May to June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.3 percent in average hourly earnings combined with an increase of 1.3 percent in the Consumer Price Index for All Urban Consumers (CPI-U). Real average weekly earnings decreased 1.0 percent over the month due to the change in real average hourly earnings combined with no change in the average workweek.