Employment growth in June was driven by continued business investment in industries that recovered from pandemic losses and in sectors that still benefit from formidable demand for goods and services despite rising borrowing costs. rice field.
Employment is now down 524,000, or 0.3%, from February 2020, slightly off pre-pandemic levels. The recovery in job creation in the private sector is responsible for overall profits. Government employment has been delayed, with a shortage of 664,000.
Employment growth in education services is strong and seasonally adjusted, suggesting that employment in the sector fell below normal in early summer.
While the recent wave of layoffs in the technology and housing sector has been talked about, professional and business services employment is 880,000 above February 2020 levels, with overall employment last month. It showed no signs of slowing down.
Bill Adams, Chief Economist at Comerica Bank, said: A major commercial bank based in Dallas.
As the baby boomer generation ages, demand for healthcare workers is growing, with the sector increasing employment by 57,000 in June, 1.1% below pre-pandemic levels.
In addition, childcare work has increased significantly. This is good news for sectors facing certain labor shortages. Although labor force participation in the economy as a whole was almost flat compared to May.
The leisure and hospitality business, which has benefited from the early summer surge in travel, dining and entertainment, has added 67,000 jobs, including 41,000 in food services and taverns. Employment level.
