Saturday, February 4, 2023

US Jobs Report January 2023


By BLS 2/4/23

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

The monthly jobs report shows jobs added in 2021, 2022 and 2023. by month.

517000 in January 2023

223000 in December 2022

263000 in November 2022

261000 in October 2022

263000 in September 2022

315000 in August 2022

528000 in July 2022

372000 in June 2022

390000 in May 2022

428000 in April 2022

431000 in March 2022

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

10,348,000 total

Total nonfarm payroll employment increased by 517,000 in January 2023 and the unemployment rate moved to 3.4%. The number of unemployed persons remained at 5.3 million.

Professional and business services jobs increased by 82,000 in January but is above February 2020 levels by 1,000,000 jobs.   

Financial jobs did not increase in January.  Employment in financial activities is 200,000 jobs above its February 2020 level.

Health care jobs increased by 58,000 in January and has recovered since February 2020.

Social Assistance jobs increased by 21000 in January.

Manufacturing jobs rose by 19000 in January and is at its February 2020 level.

Construction jobs increased by 25000 in January.

Other Services jobs did not increase in January

Information jobs did not increase in January.

Wholesale jobs did not increase in December

but has recovered since February 2020.

Leisure and hospitality jobs increased by 128,000 in January.  Jobs were down by 1 million since February 2020.

Government jobs increased by 74000 in January including 35000 university employees returning after a labor strike.

Mining Jobs did not increase in January.

Transportation and Warehouse jobs rose by by 23,000 in January.

Retail jobs rose by 30000 in January.  Retail jobs were down by 200,000 since February 2020.

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   Sept   Oct     Feb    Apr    May   Aug   Dec

Hospitality  2.2M  1.6M  1.4M  1.5M 1.4M   1.3M  -1.1m -1m

Prof & Bus 632K  385K  215K+596k+738k +821k+1.1m +1m

Mfg            481K  353K  270K  178k   56k    17k     0k       0k

Construct   238K  201K  150K  11k   +8k   +40k   +40k   +59k

Mining       110K   93K    87K    62k  +73k  +80k   +96k   +102

Healthcare 508K  524K  460K  306k  250k  223k  -37k   +0k

Public Sch 582K  504K  575K  306k  306k  308k  -555k -555k

Pvt Schls   255K  172K  148K  148k  148k  115k  +115k +115k

SocialAsst 236K  204K  204K  152k  126k  126k   -53k    -40k

Media/Info 193K  108K  122K  122k  122k  122k  +117k +101k

Tran Whse 94K  +75K +149K+584k +674k+709k +759k +751k

Wholesale 192K  159K  158K  113k  1 57k   41k     -3k   +0k

Other Svc  297K  189K  169K   317k 317k  317k   -317k  -300k

Retail         303K  202K  140K  104k  284k+159k  -208k  -200k

Totals        6.3M   4.6M   4.9M  3.8M  2.9M 2.6M  -1.34k - 0k

 

Industries with current deficits as of 12/4/22 include Hospitality, Public Schools, Retail and Other Services.

 

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 5 million illegal immigrants entered the US since January 2021. I expect they will take government welfare in addition to jobs in food service, landscaping and drug cartel jobs. Over 1 million legal immigrants arrive each year and 2 million US students graduate each year.

The US Labor Force Participation Rate 2021-2023

62.4 January 2023

60.1 December 2022

62.1 November

62.2 October

62.3 September

62.4 August

62.1 July

62.2 June

62.3 May

62.2 April

62.4 March

62.3 February

62.2 January 2022

61.9 December 2021

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 2021

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

Norb Leahy, Dunwoody GA Tea Party Leader

No comments: