Friday, February 4, 2022

US Jobs Report January 2022

By BLS 2/4/22 

https://www.bls.gov/news.release/pdf/empsit.pdf

The monthly jobs report shows jobs added in 2021 and 2022 by month

467000 in January 2022

199000 in December

210000 in November

531000 in October

194000 in September

235000 in August

943000 in July

850000 in June

559,000 in May

278,000 in April

785,000 in March

379,000 in February

49,000 in January

5,018,000 total

The US jobs deficit for January 2021 was 9.5 million minus 5.485 million jobs added = 4.01 million deficit.

Total nonfarm payroll employment increased by 467,000 in January 2022 and the unemployment rate rose from 3.9% to 4.0%. The number of unemployed persons fell from 6.3 million to 5.7 million.

Professional and business services jobs increased by 86,000 in January. Jobs are up by 511,000 since February 2020.

Leisure and hospitality jobs increased by 151,000 in January.  Jobs are down by 8.1 Million since February 2020.

Public Education jobs increased by 29,000 in January and is down by 359,000 since February 2020.

Health care jobs increased by 18,000 in January but is down by 378,000 since February 2020.

Financial jobs did not increase in January. Employment in financial activities is 30,000 jobs above its February 2020 level.

Retail jobs increased by 61000 in January.  Retail jobs are up by 61,000 since February 2020.

Wholesale jobs increased by 16,000 in January.  Employment in wholesale trade is 125,000 lower than in February 2020.

Transportation and warehousing added 54,000 jobs in January. Jobs are up by 542,000 jobs since February 2020.

Manufacturing jobs did not increase in January.  Manufacturing employment is 219,000 below its February 2020 level.

Information jobs did not increase in January. Employment in information is down by 122,000 since February 2020.

The other services jobs did not increase in January. Employment in other services remains 169,000 lower than in February 2020.

Personal Care jobs did not increase in January. Social Assistance care jobs are 204,000 below February 2020 levels

Construction jobs did not increase in January. Employment in construction is 88,000 lower than in February 2020.

Mining jobs did not increase in January. Mining employment is 81,000 below a peak in January 2019.

https://www.bls.gov/news.release/pdf/empsit.pdf

In February 2020 the US Jobs Deficit was 9.5 million.  US Unemployment by industry has deficits since February 2020.

Industry       June   July    Aug  Sept  Oct  Nov  Dec   Jan

Hospitality   2.2M 1.7M  1.7M 1.6M 1.4M 1.3M 0.6M 1.8M

Prof & Bus  632K  556K 468K 385K 215K 69K 35K  151K

Mfg            481K 433K 378K 353K 270K 253K 219K 219K

Construction238K 238K 238K 201K 150K 115K 88K  88K

Mining       110K 103K 103K   93K  87K   87K   81K   81K

Healthcare508K 502K 502K 524K 460K 450K 450K 378K

Public Sch582K 205K 409K 504K 575K 575K 575K 359K

Pvt Sch   255K 207K 159K 172K 148K 148K 148K 148K

SocialAsst236K 236K 236K 204K 204K 204K 204K 204K

Media/Info 193K 172K 150K 108K 122K 122K 122K 122K

Tran Whse 94K  44K 22K+75K+149K+210K+218K +542K

Wholesale 192K 192K 192K 159K 158K 158K 129K 125K

Other Svc  297K 236K 189K 189K 169K 169K  169K169K

Retail        303K 270K  285K  202K 140K 176K176K+61K

Totals        6.3M  5.6M  5.0M  4.6M  4.9M 4.7M 4.3M  4.M

https://www.bls.gov/news.release/pdf/empsit.pdf

https://www.bls.gov/news.release/empsit.nr0.htm

The Employment Situation-August 2021 (bls.gov)

Comments

The US Jobs deficit was 9.5 million in January 2021. This is the shortfall between jobs held in February 2020.

Over 2 million illegal immigrants entered the US since January 2021. I expect they will take government welfare in addition to food service, landscaping, construction and drug cartel jobs. Afghan refugees could exceed 100,000.

The US Labor Force Participation Rate 2021-2022

%     2021- 2022

62.2 January

61.9 December

61.8 November

61.6 October

61.6 September 

61.7 August 

61.7 July

61.6 June

61.6 May

61.7 April

61.5 March

61.4 February

61.4 January

https://tradingeconomics.com/united-states/labor-force-participation-rate

Norb Leahy, Dunwoody GA Tea Party Leader

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