Wednesday, April 27, 2022

Atlanta area private sector employment breaks 2.6 million mark, unemployment rate unchanged in March

 Atlanta area private sector jobs, January 2019 - March 2022

Private sector employers in the Atlanta metro area posted more than 2.6 million jobs in March, according to newly released information from the U.S. Bureau of Labor Statistics.

Over the past 12 months, private sector employment grew by 173,000 jobs, and the area posted nearly 75,000 more jobs than it had shown in February 2020, before the beginning of Covid-related cutbacks and shutdowns.

For the month, the Atlanta area added 14,500 jobs, combined private and public sectors before seasonal adjustment, while the unemployment rate remained at 3.2%, the same as in February.

Professional and business services added 3,000 jobs over the month and rose by 46,900 over the year.

The leisure and hospitality sector grew by 2,100 jobs in March, while job growth over the 12-month period totaled 28,800, an increase of more than 11.5%. Within the sector, jobs in food services and drinking places added 1,500 jobs over the month and 19,000 jobs over the past year.

Sectors of continued concern

Two sectors that remain worrisome is construction and other services. Construction added 800 jobs in March. For past 12 months, the sector added 1,900 jobs.

Atlanta area construction jobs, January 2019 - March 2022

Other services saw jobs grow by 1,200 over the month. Despite adding 6,000 jobs over the previous 12 months, the sector remains 4,400 jobs short of where it stood prior to the Covid period.

Atlanta area other services jobs, January 2019 - March 2022

These two sectors’ slow growth with construction jobs just now reaching their pre-Covid levels and other services remaining below may indicate concern on the part of employers as to whether the overall economy will continue its long-term upward trend. Other services includes repair and maintenance jobs, as well as membership association jobs. Employment in these categories can be a good indicator of employers’ intentions and willingness to commit funds to longer-term projects.

(Charts from U.S. Bureau of Labor Statistics)

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