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Staffing industry recruiting news, advice and thought leadership.

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Staffing industry recruiting news, advice and thought leadership.

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BLS Report – February 2021

Employment Rose by 379,000 New Jobs in February

Total nonfarm payroll employment rose by 379,000 in February, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic. In February, most of the job gains occurred in leisure and hospitality, with smaller gains in temporary help services, health care and social assistance, retail trade, and manufacturing. Employment declined in state and local government education, construction, and mining.

Both the unemployment rate, at 6.2 percent, and the number of unemployed persons, at 10.0 million, changed little in February. Although both measures are much lower than their April 2020 highs, they remain well above their pre-pandemic levels in February 2020.

Among the major worker groups, the unemployment rate for Asians declined to 5.1 percent in February. The rates for adult men (6.0 percent), adult women (5.9 percent), teenagers (13.9 percent), Whites (5.6 percent), Blacks (9.9 percent), and Hispanics (8.5 percent) showed little or no change.

Among the unemployed, the number of persons on temporary layoff fell by 517,000 in February to 2.2 million. This measure is 1.5 million higher than the level a year earlier but is down considerably from the recent high of 18.0 million in April 2020. The number of permanent job losers, at 3.5 million, was essentially unchanged in February but is 2.2 million higher than a year earlier.

WHAT DOES THIS MEAN FOR STAFFING?

While the unemployment rate remains consistent in February, added jobs within the healthcare, professional services, leisure and hospitality sectors saw significant gains. This news is positive for recruitment firms looking to hire talent within these areas. Although, candidate scarcity continues to be a challenge for firms looking to attract top talent. With an increase in remote positions for white-collar professions, organizations can struggle to attract talent that fits their team.

Source: Bureau of Labor and Statistics, THE EMPLOYMENT SITUATION — February 2021
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