Since the beginning of 2023, the U.S. job market has started positively, helped by the opening of many bars and restaurants across the country. They began to recruit, providing positions for unemployed people with enough education and skills.
In January 2023 alone, employers opened 517,000 new jobs, although economists forecasted only 185,000. So far, this is the best month since last July.
In addition, the unemployment rate has fallen significantly to 3.4%. This is the lowest level since 1969. This is despite the fact that in many areas, there are large-scale layoffs today due to the economic crisis and the deplorable financial situation of companies.
Rick Reeder, chief investment officer at BlackRock, believes the reason for this is that the number of employees has returned to early 2019 levels in areas such as healthcare, education, and tourism.
Speaking of the leisure and hospitality sector, it’s worth noting that it was hit the hardest by the COVID-19 pandemic but has gained significant momentum so far. In January, 128,000 workers were hired, and the sector is still growing. And there is room for growth, as the total number of employees in the field is still 2.9% below pre-pandemic levels. At the same time, some states are gradually legalizing gambling and sports betting, so it makes sense that new establishments would need employees. Naturally, many Americans still play online and search for the latest no deposit bonuses, despite the fact that these foreign casinos operate illegally in the United States. Players are attracted by generous bonuses on proven games. Nevertheless, with the legalization of gambling, more and more Americans will start visiting local gambling establishments that have opened.
Also showing excellent growth is the professional and business services sector, which has seen 82,000 additions since the beginning of the year. This includes various construction workers, specialists in repairing real estate, cars, and other equipment, as well as handymen.
And unexpectedly, the government is the third fast-growing industry. This industry has seen a significant number of jobs since the beginning of the year that hired competent professionals have filled. Their total number was 74 thousand people.
And concluding, the TOP-4 sphere is medicine and public health, which welcomed about 58 thousand new experts. Most of them began to work in outpatient medical care: doctors, dentists, laboratory technicians, ambulance staff, and other workers.
Experts also note the growth in areas such as retail trade, construction, transportation, social services, and manufacturing. The addition of new employees in them is less significant than those mentioned above, but they still affected the market quite strongly.
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