{"id":173837,"date":"2023-02-03T09:09:55","date_gmt":"2023-02-03T16:09:55","guid":{"rendered":"https:\/\/inbusinessphx.com\/?p=173837"},"modified":"2023-02-03T09:09:55","modified_gmt":"2023-02-03T16:09:55","slug":"u-s-employers-added-517000-jobs-in-january-dropping-the-jobless-rate-to-its-lowest-level-since-1969","status":"publish","type":"post","link":"https:\/\/staging.inbusinessphx.com\/?p=173837","title":{"rendered":"U.S. Employers Added 517,000 Jobs in January, Dropping the Jobless Rate to Its Lowest Level since 1969"},"content":{"rendered":"
\"\"<\/a>\nTotal nonfarm payroll employment rose by 517,000 in January, and the unemployment rate\nchanged little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job\ngrowth was widespread, led by gains in leisure and hospitality, professional and \nbusiness services, and health care. Employment also increased in government, partially\nreflecting the return of workers from a strike.\n\nThis news release presents statistics from two monthly surveys. The household survey \nmeasures labor force status, including unemployment, by demographic characteristics. The\nestablishment survey measures nonfarm employment, hours, and earnings by industry. For \nmore information about the concepts and statistical methodology used in these two surveys,\nsee the Technical Note.\n\nHousehold Survey Data<\/strong>\n\nBoth the unemployment rate, at 3.4 percent, and the number of unemployed persons, at 5.7 \nmillion, changed little in January. The unemployment rate has shown little net movement \nsince early 2022. \n\nAmong the major worker groups, the unemployment rates for adult men (3.2 percent), adult\nwomen (3.1 percent), teenagers (10.3 percent), Whites (3.1 percent), Blacks (5.4 percent),\nAsians (2.8 percent), and Hispanics (4.5 percent) showed little change in January. \n\nThe number of persons jobless less than 5 weeks decreased to 1.9 million in January. The\nnumber of long-term unemployed (those jobless for 27 weeks or more) was essentially \nunchanged at 1.1 million. The long-term unemployed accounted for 19.4 percent of the total\nunemployed in January. \n\nIn January, both the labor force participation rate, at 62.4 percent, and the employment-\npopulation ratio, at 60.2 percent, were unchanged after removing the effects of the annual\nadjustments to the population controls. These measures have shown little net change since\nearly 2022 and remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1\npercent, respectively). \n\nThe number of persons employed part time for economic reasons, at 4.1 million, was little\nchanged in January. These individuals, who would have preferred full-time employment, were\nworking part time because their hours had been reduced or they were unable to find full-\ntime jobs.\n\nThe number of persons not in the labor force who currently want a job was 5.3 million in\nJanuary, little changed from the prior month. These individuals were not counted as \nunemployed because they were not actively looking for work during the 4 weeks preceding\nthe survey or were unavailable to take a job. \n\nAmong those not in the labor force who wanted a job, the number of persons marginally \nattached to the labor force, at 1.4 million, changed little in January. These individuals\nwanted and were available for work and had looked for a job sometime in the prior 12 \nmonths but had not looked for work in the 4 weeks preceding the survey. The number of \ndiscouraged workers, a subset of the marginally attached who believed that no jobs were \navailable for them, was also little changed over the month at 342,000. \n\nEstablishment Survey Data<\/strong>\n\nTotal nonfarm payroll employment rose by 517,000 in January, compared with an average \nmonthly gain of 401,000 in 2022. Job growth was widespread in January, led by gains in \nleisure and hospitality, professional and business services, and health care. Employment\nalso increased in government, partially reflecting the return of workers from a strike.\n(See table B-1. See the note at the end of this new release and table A for more \ninformation about the annual benchmark process.)\n\nLeisure and hospitality added 128,000 jobs in January compared with an average of 89,000\njobs per month in 2022. Over the month, food services and drinking places added 99,000\njobs, while employment continued to trend up in accommodation (+15,000). Employment in\nleisure and hospitality remains below its pre-pandemic February 2020 level by 495,000,\nor 2.9 percent.\n\nIn January, employment in professional and business services rose by 82,000, led by gains\nin professional, scientific, and technical services (+41,000). Job growth in professional\nand business services averaged 63,000 per month in 2022.\n\nGovernment employment increased by 74,000 in January. Employment in state government\neducation increased by 35,000, reflecting the return of university workers after a \nstrike. \n\nHealth care added 58,000 jobs in January. Job growth occurred in ambulatory health care \nservices (+30,000), nursing and residential care facilities (+17,000), and hospitals \n(+11,000). In 2022, health care added an average of 47,000 jobs per month.\n\nEmployment in retail trade rose by 30,000 in January, following little net growth in \n2022 (an average of +7,000 per month). In January, job gains in general merchandise \nretailers (+16,000) and in furniture, home furnishings, electronics, and appliance \nretailers (+7,000) were partially offset by a decline in health and personal care \nretailers (-6,000). \n\nConstruction added 25,000 jobs in January, reflecting an employment gain in specialty\ntrade contractors (+22,000). Employment in the construction industry grew by an average\nof 22,000 per month in 2022.\n\nIn January, transportation and warehousing added 23,000 jobs, the same as the industry's\naverage monthly gain in 2022. Over the month, employment in support activities for\ntransportation increased by 7,000.\n\nEmployment in social assistance increased by 21,000 in January, little different from\nthe 2022 average gain of 19,000 per month. \n\nManufacturing employment continued to trend up in January (+19,000). In 2022, \nmanufacturing added an average of 33,000 jobs per month.\n\nEmployment showed little change over the month in other major industries, including \nmining, quarrying, and oil and gas extraction; wholesale trade; information; \nfinancial activities; and other services.\n\nIn January, average hourly earnings for all employees on private nonfarm payrolls rose\nby 10 cents, or 0.3 percent, to $33.03. Over the past 12 months, average hourly\nearnings have increased by 4.4 percent. In January, average hourly earnings of private-\nsector production and nonsupervisory employees rose by 7 cents, or 0.2 percent, to \n$28.26. \n\nThe average workweek for all employees on private nonfarm payrolls rose by 0.3 hour to\n34.7 hours in January. In manufacturing, the average workweek increased by 0.4 hour to\n40.5 hours, and overtime increased by 0.1 hour to 3.1 hours. The average workweek for\nproduction and nonsupervisory employees on private nonfarm payrolls increased by 0.2\nhour to 34.1 hours. \n\nThe change in total nonfarm payroll employment for November was revised up by 34,000,\nfrom +256,000 to +290,000, and the change for December was revised up by 37,000, from\n+223,000 to +260,000. With these revisions, employment gains in November and December\ncombined were 71,000 higher than previously reported. (Monthly revisions result from\nadditional reports received from businesses and government agencies since the last \npublished estimates and from the recalculation of seasonal factors. The annual \nbenchmark process also contributed to the November and December revisions.)<\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"
Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers […]<\/p>\n","protected":false},"author":2,"featured_media":11249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[6],"tags":[3],"class_list":["post-173837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-trends","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts\/173837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=173837"}],"version-history":[{"count":0,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/wp\/v2\/posts\/173837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=173837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=173837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.inbusinessphx.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=173837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}