467,000 Jobs Added in January, Unemployment Rate at 4.0%

Total nonfarm payroll employment rose by 467,000 in January, according to the Bureau of Labor Statistics. Total unemployed persons rose to 6.5 million in January, and the unemployment rate was little changed at 4.0%.

Most of the job gains in January were in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing.

Employment in leisure and hospitality expanded by 151,000 in January, reflecting job gains in food services and drinking places (+108,000) and in the accommodation industry (+23,000). Since February 2020, employment in leisure and hospitality is down by 1.8 million, or 10.3%.

Employment in professional and business services added 86,000 jobs. Job gains occurred in management and technical consulting services (+16,000), computer systems design and related services (+15,000), architectural and engineering services (+8,000), and other professional and technical services (+7,000). Employment in professional and business services is 511,000 higher than in February 2020, largely in temporary help services (+185,000), computer systems design and related services (+161,000), and management and technical consulting services (+151,000).

Employment in retail trade rose by 61,000 in January. Job growth occurred in general merchandise stores (+29,000); health and personal care stores (+11,000); sporting goods, hobby, book, and music stores (+7,000); and building material and garden supply stores (+6,000). Retail trade employment is 61,000 above its level in February 2020.

The civilian labor force participation rate was little changed at 62.2%. Persons on temporary layoff increased to 959,000 in January. This measure is down considerably from the high of 18.0 million in April 2020. Workers with permanent job loss declined to 1.6 million.

Read the BLS release.

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