While the unemployment rate fell during the month of January, the job market continues to be highly impacted by the Covid19 pandemic. The following Employment Situation Data is comprised from the Establishment Survey as well as the Household Survey combined.
The Establishment Survey records nonfarm employment, hours, and earnings based on job industries. The Household Survey records labor force status by demographics.
Labor Market Statistics
Source: The U.S. Bureau of Labor Statistics
| U.S. Unemployment Rate (Reported February 5, 2021) | 6.3% |
| Number of Unemployed Persons | 10.1M |
| Jobless Rate for Women | 6.0% |
| Jobless Rate for Blacks | 9.2% |
With a 0.4% drop in unemployment, there have been some changes in the job market. The decrease in joblessness for women and blacks, while notable, are not comparable with their white working counterparts (5.7%). Still, these gains are significant and should be watched closely as we see increases in national-wide vaccine delivery.
It should also be noted, that millions of Americans are looking for employment. However, the weather, fear of the Covid19 pandemic, and the ability to get vaccinated have all contributed to the slow growth of hiring. In addition, finding employment in this current job market has proved to be confusing for many.
The Labor Market by Industry
Top 4 Industries With Job Losses
- Leisure and Hospitality
- Retail Trade
- Health Care
- Transportation and Warehousing
One of the biggest surprises report is the loss of 30,000 jobs in the healthcare industry for the month of January 2021.
Top 4 Industries With Job Gains
- Professional and Business Services
- Public Education
- Private Education
- Wholesale Trade
Professional and Business Services, including temporary agencies, increased by more than 97,000 new or filled jobs in the month of January 2021. Consequently, the majority of the increase was due to temporary services, an industry that has seen non-stop gains over the past several months.
Increases in management and technical consulting services (Professional and Business Services) are additional industries where job seekers may want to focus.
Top Companies Hiring
Companies across the nation are increasing work-from-home positions. As the nation continues to become more flexible in terms of how we work, more and more businesses will jump on board.
Virtual Events & Job Fairs
- February 26, 2021 – Central PA Virtual Tech Career Fair
- March 2, 2021 – Southern US Physician Virtual Career Fair
- March 23, 2021 – Women in Business & Technology Talent Connection
- March 24, 2021 – New York Virtual Job Fair
- March 25, 2021 – Black Virtual Career Fair – General + Healthcare + Tech
- March 25, 2021 – Women in Technology Spring 2021 Virtual Job Fair
Virtual events and job fairs are the new normal. Research your state for local virtual job fairs, and be sure to reserve your seat by registering early.
Jamilah’s Tip of the Month
The Follow-Up is a crucial step for job-seekers in order to stay top-of-mind for upcoming opportunities. Remember, many open positions are not advertised by traditional methods in today’s job market. However, being remember by a hiring manager can get you in the door for an interview.
Continue to network with your friends and former co-workers. Then, be sure to follow up with a quick hand-written note or email to thank them for their time. This is even more necessary after meeting with recruiters.
She Works for It Happenings
Career + Hustle Toolkit
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Top 10 Online Job Boards Workbook
Searching for a new and exciting career can be extremely difficult if you do not know where to look. Use this workbook as a handy guide to some of the industry’s top search boards in today’s job market.
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