Saturday, March 12, 2022

US Jobs Report February 2022

By BLS 3/7/22 

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

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

678000 in February 2022

467000 in January 2022

199000 in December 2021

210000 in November 2021

531000 in October 2021

194000 in September 2021

235000 in August 2021

943000 in July 2021

850000 in June 2021

559,000 in May 2021

278,000 in April 2021 

785,000 in March 2021

379,000 in February 2021

49,000 in January 2021

5,696,000 total

The US jobs deficit for January 2021 was 9.5 million minus 5.696 million jobs added = 3.804 million deficit.

Total nonfarm payroll employment increased by 678,000 in January 2022 and the unemployment rate fell from 3.9% to 3.8%. The number of unemployed persons remained at million to 6.3 million.

Professional and business services jobs increased by 95,000 in February. Jobs are up by 596,000 since February 2020.

Financial jobs increased by 35000 in February. Employment in financial activities is 31,000 jobs above its February 2020 level.

Health care jobs increased by 64,000 in February but is down by 306,000 since February 2020.

Construction jobs increased by 60000 in February. Employment in construction is 11,000 lower than in February 2020.

Mining jobs did not increased by 9000 in February. Mining employment is 62,000 below a peak in January 2019.

Transportation and warehousing added 48,000 jobs in January. Jobs are up by 584,000 jobs since February 2020.

Manufacturing jobs increased by 36000 in February. Manufacturing employment is 178,000 below its February 2020 level.

The other services repair jobs increased by 25,000 in February. Employment in other services remains 317,000 lower than in February 2020.

Wholesale jobs increased by 18,000 in February.  Employment in wholesale trade is 113,000 lower than in February 2020.

Retail jobs increased by 37,000 in February.  Retail jobs are up by 104,000 since February 2020.

Leisure and hospitality jobs increased by 179,000 in February.  Jobs are down by 1.5 Million since February 2020.

Public Education jobs did not increase in February and is down by 306,000 since February 2020.

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

Personal Care jobs increased by 31,000 in February. Social Assistance care jobs are 152,000 below February 2020 levels

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   Feb

Hospitality 2.2M 1.7M 1.7M 1.6M 1.4M 1.3M 0.6M 1.8M   1.5M

Prof & Bus 632K 556K 468K 385K 215K 69K 35K 151K  +596k

Mfg           481K 433K 378K 353K 270K 253K 219K 219K 178k

Construct  238K 238K 238K 201K 150K 115K  88K   88K  11k

Mining       110K 103K 103K   93K  87K   87K   81K   81K  62k

Healthcare 508K 502K 502K 524K 460K 450K 450K 378K 306k

Public Sch 582K 205K 409K 504K 575K 575K 575K 359K 306k

Pvt Schls   255K 207K 159K 172K 148K 148K 148K 148K 148k

SocialAsst 236K 236K 236K 204K 204K 204K 204K 204K 152k

Media/Info193K 172K 150K 108K 122K 122K 122K 122K 122k

Tran Whse 94K  44K 22K+75K+149K+210K+218K+542K+584k

Wholesale192K 192K 192K 159K 158K 158K 129K 125K  113k

Other Svc 297K 236K 189K 189K 169K 169K  169K169K 317k

Retail        303K 270K  285K  202K 140K 176K176K+61K 104k

Totals        6.3M  5.6M  5.0M  4.6M  4.9M 4.7M 4.3M  4.M 3.8M

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

62.3 February

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

No comments: