Business & Professional Services Add 90K Jobs and Nears Recovery Despite Disappointing National Jobs Gains
November’s job gains underperformed expectations, with only 210,000 jobs added. Despite the disappointing November numbers, some industries — like Professional &Business Services — fared well moving closer to pre-pandemic employment, while others — like Government — lost jobs.
Leisure & Hospitality remains one of the industries farthest from recovery and 23,000 jobs as holiday and recreational travel have picked up. The job gains in Leisure & Hospitality were driven by a 17,600 increase in Accommodation & Food Services — or hotels and bars and restaurants.
The good news is that, after adding 90,000 jobs in November, Business & Professional Services is now less than 100 jobs below pre-pandemic employment levels. Even a modest month of gains in December will push this industry to recovery in 2021 — ahead of LaborIQ projections.
Many industries are projected to recover in 2022, while others — including Leisure & Hospitality and Mining & Logging — are not projected to recover until 2025 or later.
LaborIQ by ThinkWhy reports, forecasts and advises on employment conditions and the impact to jobs, industries and businesses across all U.S. cities.