| The job market has rebounded since we lost nearly 22 million jobs in the two months after COVID struck. There are now 3.8 million more jobs in the economy than in February 2020.
Why it matters: Despite this robust recovery, not all industries have added jobs equally.
- Leisure and Hospitality is down the most, 369,000 jobs or 2%.
- Mining and Logging is down the most on a percentage of workforce basis at 6% or 44,000 jobs. Government and other services are also still down workers.
- Professional and Business Services has added the most jobs, 1.6 million – an 8% increase. Transportation and Utilities has seen its employment grow by 15% or 954,000 jobs.
Be smart: Leisure and Hospitality continues to lag in bringing workers back. Given the worker shortage, the industry will continue to struggle to close the gap.
- On the other end, businesses employing Professional and Business Service workers and Transportation and Utilities are growing and attracting workers at a strong pace. Other industries are going to have to compete with them for scarce workers.
|
