Insights and Perspective

 

Insights and Perspective

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Read the latest from Geographic Solutions.

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Leisure & Hospitality employment continues to grow but remains the only sector still below its pre-pandemic employment level. The labor market has been running hot for several months; but it is uncertain when increasing wage gains are going to have a dampening effect on employment.

Job Creation Maintains Healthy Expansion in March

March employment continued its record streak of growing by more than 400,000 jobs per month since May 2021. At this pace jobs should return to their February 2020 total in four months.

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The January employment figures along with the revisions in December and November portray a labor market that is healthier than thought on first examination.

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A welcome change from the previous two months, the expected job growth acceleration was somewhat higher than forecast by multiple outlets.