2022 Kicks Off With Strong Hiring Growth; 467,000 Jobs Gained in January

The U.S. added a robust 467,000 jobs in January 2022 while the unemployment rate rose to 4% from 3.9%. However, the economy is still missing as many as 4 million workers who likely would be employed now had the pandemic never happened amid a record-breaking surge in COVID-19 cases nationwide. 

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Topics: Jobs Report

Healthcare Job Growth Remained Flat in December; Record Resignations Impact Industry

The final 2021 U.S. Labor Department Employment Situation Report once again provided evidence that COVID, in particular the spread of the Omicron variant, has restrained job growth.  A smaller-than-expected 199,000 jobs were added in December 2021 and the unemployment rate hit edged down to 3.9% from 4.2% . Furthermore, according to the Bureau's Job Openings and Labor Turnover Survey (JOLTS), workers left their jobs at record-breaking pace of 4.5 million resignations.

The healthcare sector recorded a loss of 3,100 jobs and 52,000 resignations took place within the larger healthcare and social-assistance industry. The healthcare sector gained 143,800 jobs in 2021, remains down 449,500 jobs since pre-pandemic levels.

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Topics: Jobs Report

Lackluster Job Growth in November; Healthcare Employment Virtually Unchanged

The Labor Department revealed slow job growth in November, with just 210,000 new jobs added to payrolls. November's increase in hiring was the smallest in a year and was well below the half a million jobs expected by economists. The unemployment rate hit a new pandemic low, coming in at 4.2% from 4.6%.  The data indicates that the worst labor shortage in decades continues to heavily impact economic growth.  

Healthcare employment was virtually unchanged in November (+2,100). Within the industry, employment in ambulatory health care services continued to trend up (+17,000), while hospital lost 3,900 jobs and nursing and residential care facilities lost 11,000 jobs. Employment in health care is down by 450,000 since February
2020, with nursing and residential care facilities accounting for nearly all of the loss.

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Topics: Jobs Report

Weak September Jobs Report Misses Expectations with Gain of 194K Jobs

The U.S. Bureau of Labor Statistics revealed that job growth dropped to the slowest pace seen this year, adding just 194,000 new jobs in September and marking the second consecutive month of decline. The unemployment rate dropped to an 18-month low of 4.8%, partially offset by those leaving the labor force. August payrolls were revised to show a revised job gain of 366,000, up from the originally reported 235,000. Overall employment remains 5.0 million jobs below the pre-pandemic peak in February 2020.

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Topics: Jobs Report

Job Growth Weakened in August; Healthcare Lost Nearly 5K Jobs

The COVID-19 Delta variant likely tampered with job growth last month, according to the August 2021 U.S. Bureau of Labor Statistics (BLS) Hiring Situation. In August 235,000 jobs were added to the U.S. economy, the fewest jobs in seven months and less than half of the average monthly job growth of 586,000 that has been seen this year. The unemployment rate dropped to a 17-month low of 5.2%, down from 5.6%, a 16-month low. Employment is up by 17 million since April 2020 but down by 5.3 million, or 3.5%, from its pre-pandemic level in February 2020.

While the healthcare sector overall lost 4,900 jobs in August, hospitals marked the second consecutive month of job growth, adding 3,200 jobs. Job losses occurred in nursing and residential care facilities (-6,900) and in ambulatory care settings (-1,200). Ambulatory care has typically been the largest job-producing segment within healthcare’s economic rebound. Overall, 513,400 healthcare jobs have been lost since the start of the pandemic in February 2020, with nursing homes accounting for the majority of job loss (-383,200). Hospitals lost 84,800 jobs and ambulatory care settings lost 45,300 jobs during the same time period.

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Topics: Jobs Report

May Employment Report: Modest Job Growth, Ongoing Labor Shortage


The May 2021 U.S. Bureau of Labor Statistics (BLS) Hiring Situation Report showed moderate job gains last month, recording a job growth of 559,000 jobs. The smaller gains are reportedly a result of ongoing labor shortages as the economy reopens. The unemployment rate edged down from 6.1% in April to 5.8% in May, it's lowest since the pandemic shuttered businesses in March 2020.  According to the U.S. Labor Department, job openings reached a record level of 8.1 million at the end of March, reflecting a widening labor shortage.

In May 22,500 new jobs were gained within healthcare, primarily within ambulatory care settings (22.5K). Hospital payrolls grew by 2,900 and nursing and residential care facilities lost 2,400 jobs last month.  The unemployment rate for healthcare stands at 3.1% and at 2.2% within hospitals.  Compared with February 2020, healthcare employment is down by 508,000.

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Topics: Jobs Report

Job Growth Falls Short in April; Labor Shortage Remains

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Topics: Jobs Report

March 2021 Economic Report Optimistic; 916K Jobs Added

The March 2021 Bureau of Labor Statistics (BLS) Hiring Situation Report revealed that payrolls surged in the final month of Q1 2021, with the economy adding 916,000 new jobs- the largest gains seen since September 2020. The unemployment rate inched down to 6.0% in March from 6.2% in February.  These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to COVID-19.  However, overall healthcare employment changed little last month and hospital employment has declined in each month of 2021 so far. Within healthcare, 11,500 new jobs were added in March, the majority of which were added in ambulatory care settings (15,300). These gains were offset by a loss of 600 jobs in hospital settings and 3,200 in nursing and residential care facilities. 

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Topics: Jobs Report, march

U.S. Economic Recovery Gains Steam; Payrolls Surge 379,000 in February 2021

Major economic gains were seen in February’s U.S. Bureau of Labor Statistics (BLS) Hiring Situation Report, with the economy adding 379,000 new jobs last month as the pandemic’s winter wave recedes.  The unemployment rate inched down to 6.2% in February from 6.3% in January.  Payrolls remain 9.5 million short of pre-crisis levels. 

Within healthcare, 19,900 new jobs were added in February, with strong gains seen in ambulatory care settings (28,900). Other healthcare settings did not fare as well and continued to demonstrate job loss, with 2,200 hospital jobs and 6,800 nursing care facility jobs disappearing last month. Broader employment in health care and social assistance is down by 909,000 over the year.

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Topics: Jobs Report, February

49,000 Jobs Created in January 2021 Amid Third Wave of U.S. COVID-19 Cases

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Topics: Healthcare, Jobs Report, Coronavirus

  

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