Strong recruitment in the leisure and hospitality, healthcare and professional services and business sectors has helped Job growth soars in February.
The leisure and hospitality sectors, where the Covid-19 pandemic has hit particularly hard, added more than 179,000 jobs in the second month of 2022. The increase represents the latest in a string of jobs. Strong numbers for this sector, including restaurants, hotels, casinos and theme parks.
In this sector, restaurants and bars added nearly 124,000 jobs while accommodation and motel businesses added another 28,000.
Thanks to widespread business closures in 2020, the sector remains 1.5 million jobs, or 9%, short of employment levels in February 2020.
Employment rates in health care and social services also increased sharply in February, adding about 94,000 jobs. Job growth occurred in home health services, private institutions and other medical offices. Employment in the healthcare sector is down 1.9% from the level in February 2020.
Professional and business services, one of the broadest industries measured by the Labor Department, added 95,000 net positions last month. Of those, nearly 36,000 are classified as “temporary service” workers, who are often hired on a short-term contract basis.
Corporate management and other businesses added about 12,000 jobs last month, and consultants added nearly 10,000.
Brian Deese, director of President Joe Biden’s National Economic Council, applauded what he has billed as a strong jobs report.
“Overall, it’s a very strong report,” he said. “Employment gains are broadly based. … Americans are returning to work and there are signs they are returning to the workplace.”
Deese, one of the president’s top economic advisers, added that he is not too worried about wage growth stagnating and that economists should evaluate the monthly jobs report in light of the .
The construction industry added 60,000 jobs in February after a lackluster January. About 75% of that monthly revenue comes from hiring specialty commercial contractors, with an increase in both residential and non-residential employment.
Depending on the job, such contractors perform a wide range of jobs including cementing, site preparation, plumbing and painting.
Transportation and warehousing, an industry that has come under scrutiny for its potential for supply chain relief, added nearly 48,000 jobs last month. During the month, hiring continued in warehouse and storage (10,700), courier and messenger (9,400) and air freight (6,900).
Employment in the retail trade rose by nearly 37,000 in February, with increases in building materials and garden supply stores (12,100), furniture and home furnishing stores (5,600) and gas station (4,800).
– CNBC’s Crystal Mercedes contributed reporting.
