May – 2021 Jobs Analysis
Another step in the right direction…
The month of May saw the continued stabilization of our Local Labor Force and the continued recovery of our Local Employment and our Total Nonfarm Employment. We also saw a significant drop in both our Unemployment Count and Rate. In fact, our unemployment count year-to-year has dropped by over 50%.
While we did see similar sector increases in Construction-Mining & Manufacturing, I wanted to draw your attention to not only the month-to-month but the year-to-year recovery of Leisure-Hospitality.
This sector was by far the hardest hit by the non-essential shut-down and “Stay at home” orders. I consider the recovery of these direct, recreational service industry jobs as the surest sign of an economic spring. We are nearly to pre-pandemic levels of employment while we are still roughly 3,800 jobs below our Total Nonfarm employment level. Hopefully, this is a sign of things to come.