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Industry Report

In February 2023, Leisure and Hospitality sectors register considerable growth

Home » Industry Report » In February 2023, Leisure and Hospitality sectors register considerable growth

February 2023 Jobs Report

Total nonfarm payroll employment rose by 311,000 in February, and the unemployment rate edged up to 3.6 percent. Notable job gains occurred in leisure and hospitality, retail trade, government, and health care. Employment declined in information and in transportation and warehousing.

In February, the labor force participation rate was little changed at 62.5 percent, and the employment-population ratio held at 60.2 percent. These measures have shown little net change since early 2022 and remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1 percent, respectively).

Total Jobs Added*

(* Non-Farm Jobs Only)

Unemployment Rate

(Increased by .2% since January)

Industry-Specific Updates
– February 2023

+45,000

Professional & Business Services

Scientific, and technical services +12,000
Job growth +35,000 per month over the prior 6 months

+105,000

Leisure and Hospitality

Food services and drinking places + 70,000
Accommodation +14,000

+44,000

Healthcare

Ambulatory health care +30,000
Hospitals +19,000
Nursing and residential care +14,000
Job growth +54,000 per month

-22,000

Transportation & Warehousing

Truck Transportation -9,000
Employment down by 42,000 since October’22

Manufacturing

No significant change since January

Additional Growth Sectors

Social assistance + 19,000
Retail +50,000
Construction +24,000

Among the major worker groups, the unemployment rate for Hispanics (5.3 percent) increased in February. The unemployment rates for adult men (3.3 percent), adult women (3.2 percent), teenagers (11.1 percent), Whites (3.2 percent), Blacks (5.7 percent), and Asians (3.4 percent) changed little over the month.

Source: The US Bureau of Labor Statistics

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