Hospitality Sector Leads June Job Gains in the US
Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate dropped to 11.1 percent, the U.S. Bureau of Labor Statistics reported. These improvements in the labor market reflected the continued resumption of economic activities that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it. In June, employment in the leisure and hospitality industry rose sharply. Notable job gains also occurred in retail trade, education and health services, other services, manufacturing, and professional and business services.
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While the White House was quick to celebrate those records, it’s important to note that the latest job gains were only made possible by the historic job losses that preceded them. Total nonfarm employment in June was still 13 million short of last year’s June total and nearly 15 million short of the pre-pandemic level from February 2020. Moreover, 17.75 million Americans are still unemployed as a second wave of lockdowns looms ominously as case numbers continue to rise.
This news release presents statistics from two monthly surveys. The below chart shows, almost every industry reported a gain in employment last month, with leisure & hospitality benefitting the most from widespread reopenings.
