After my last few columns touted the strength of the local labor market, there was bound to be a correction. In February, employment fell.
Employment fell by 400 jobs in February, though several sectors saw gains.
The education and health services sector continued to add jobs. There have been over 40,000 people employed in this sector since August last year. Most of these jobs are in the health services sector because most education jobs are in local government (K-12 teachers and staff) or state employment (university employees).
The government sector also had a good month, with all levels of government seeing increased employment. Local government employment rose by 200, federal by 100, and state employment eked out 10 new positions.
Manufacturing also continued its recent renaissance. About 100 jobs were added in February, and about 400 since July.
The only other sector to add jobs in February was professional and business services.
The big loser in February was leisure and hospitality, with jobs in this sector down over 1,100. Leisure and hospitality has one of the highest monthly variability in employment, with data going back to 1990. The average change in monthly employment in this sector is 235. These numbers, however, are impacted by the covid recession, which hit leisure and hospitality particularly hard. Professional and business services have the highest variability due to its diverse make-up and size. The lowest variability is in information and wholesale, but they are the two smallest sectors.
