Written By ESR News Blog Editor Thomas Ahearn
The United States economy added 678,000 jobs and the unemployment rate dropped to 3.8 percent in February 2022, according to the jobs report for February 2022 released by the U.S. Bureau of Labor Statistics. Job gains occurred the most in leisure and hospitality, professional and business services, health care, and construction.
The jobs report showed the number of unemployed persons dropped to 6.3 million in February 2022. In February 2020, prior to the Coronavirus (COVID-19) pandemic, the unemployment rate was 3.5 percent, and unemployed persons numbered 5.7 million. Job gains occurred in the following industries in February 2022:
- Leisure and hospitality employment increased by 179,000 jobs but is down by 1.5 million jobs since February 2020.
- Professional and business services employment added 95,000 jobs and is 596,000 jobs higher than its level in February 2020.
- Health care employment added 64,000 jobs but is down by 306,000 jobs from its level in February 2020.
- Construction employment added 60,000 jobs but is down 11,000 jobs from February 2020.
- Transportation and warehousing employment increased by 48,000 jobs and is 584,000 jobs higher than its February 2020 level.
- Retail trade employment rose by 37,000 jobs and is 104,000 jobs above its level in February 2020.
- Manufacturing employment added 36,000 jobs but is down by 178,000 jobs since February 2020.
- Financial activities employment rose by 35,000 jobs and is 31,000 jobs above its level in February 2020.
- Social assistance employment added 31,000 jobs but is down by 152,000 jobs since February 2020.
- Other services employment increased by 25,000 jobs but is down by 317,000 jobs since February 2020.
- Wholesale trade employment added 18,000 jobs but is 113,000 jobs lower than in February 2020.
- Mining employment rose by 9,000 jobs and has grown by 62,000 jobs since a recent low in February 2021.
- Employment showed little change in information and government during the month.
The jobs report is released on the first Friday of every month at www.bls.gov/news.release/empsit.nr0.htm. The jobs report for March 2022 will be released on Friday, April 1, 2022. A PDF version of the news release for the jobs report is at www.bls.gov/news.release/pdf/empsit.pdf. To learn more about the BLS, visit www.bls.gov.
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