The labor market in the United States continues to be dynamic and adding thousands of new jobs despite fears of a recession; However, not all sectors of the economy behaved the same, as there were some who hired more workers than others.
In recent weeks, the economy has lurched with respect to the number of jobs lost, which contrasts with the efforts in certain sectors of the economy that seek to hire thousands of workers.
Beyond this, the data was surprisingly encouraging last January in terms of job creation, because, according to the Department of Labor, 517.00 new job positions were created during the first month of 2023.
This data is markedly higher than the 185,000 predicted by Refinitiv economists and marked the best month for US job creation since last July.
On the other hand, the unemployment rate fell again last January to 3.4%its lowest level since 1969, according to data released late last week by the Labor Department.
1. Leisure and hospitality: 128,000 new jobs
2. Professional and business services: 82,000 new jobs
3. Government: 74,000 new jobs
4. Health care: 58,200 new jobs
5. Retailers: 30,100 new jobs
6. Construction: 25,000 new jobs
7. Transportation and storage: 22,900 new jobs
8. Social assistance: 21,000 new jobs
9. Manufacturing: 19,000 new jobs
10. Wholesale trade: 11,300 new jobs
11. Mining and logging: 2,000 new jobs
The leisure and hospitality sector, which includes bars, restaurants and fast food chains, continues to struggle to recover the employment levels they had before the pandemic.
This could explain, in the voice of specialists, why employment in this sector shows a notoriously dynamic behavior, with 128,000 new positions just last January.
In general terms, the sectors associated with services continue to struggle to hire more employees.
“The fact is that the service sector has yet to see job hiring return to pre-pandemic levels in places like healthcare and education and leisure and hospitality,” said Rick Rieder, chief investment officer. fixed income brokers on BlackRock, in a report for Fox Business.
“Although we are clearly seeing high-profile layoffs in finance and technologythe number of jobs required in the above-mentioned more labor-intensive service sectors dwarfs these layoff numbers,” he added.
In this sector, the bars and restaurants industry added 98,600 new jobs, while hotels did so with 14,800 and amusement, gaming and recreation centers added 11,200 new jobs.
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Source: La Opinion