The Jobs Report - January 2022 - Ziegler Capital Management

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In January, the economy added 467K jobs, easily beating the consensus estimate of 125K.

What you need to know:

The prior two months were revised up by 709K making the job growth starting 2022 much stronger than originally reported.
Hourly earnings were solid with a 5.7% YOY increase. Workers are starting to reap the benefits of a tightening labor market.
The economy has added 19.1M jobs since April 2020, 2.9M jobs away from the pre-pandemic employment levels of February 2020.
The private sector added 444K jobs with Leisure & Hospitality leading the way with 151K.
The Retail Trade sector added 61K jobs and Transportation & Warehousing added 54k, both better than in prior months.
Despite the rise of the Omicron variant, job growth was solid as the economy continues its recovery.
This report will give further support for Fed rate increases and balance sheet reductions in 2022.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm

*The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data nor is it considered an offer to buy or sell any securities referred to herein. Links included herein are to unaffiliated third party sites. The Firm cannot verify or guarantee the accuracy of any information presented therein. By clicking on these links, the reader understands and acknowledges they are leaving Ziegler Capital Management’s web page.

The Jobs Report – January 2022

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What you need to know:

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