The monthly jobs report showed some of the biggest gains were in sectors like leisure and hospitality, healthcare, and lodging and hospitality services, all of which have been hit hard during the pandemic.
There were also notable monthly job losses in tech and interest rate-sensitive sectors, which surged during the pandemic and are now rebalancing as consumers shift spending toward services.
Sectors such as information, finance, retail, transportation, and professional and business services all shed jobs between November and December.
Some of those losses are likely a result of the tech industry’s mass layoffs, said Ken Kim, senior economist at KPMG.
“We’re seeing a slight spread to other areas,” he told CNN.
Between November and December 2022, new jobs were created by key sectors
In total: +223,000 to 153.7 million
Mining and Logging: +4,000 to 644,000
Construction: +28,000 to 7.78 million
Manufacturing: +8,000 to 12.9 million
Wholesale: +12,000 to 5.9 million
Retail trade: +9,000 to 15.8 million
Transport and Storage: +4,700 to 6.5 million
Utilities: +1,600 to 544,400
Information: -5,000 to 3.1 million
Financial Activities: +5,000 to 9 million
Professional and Business Services: -6,000 to 22.4 million
Education and Health Services: +78,000 to 24.9 million
Leisure and Hospitality: +67,000 to 16.1 million
Government: +3,000 to 22.4 million
Source: Bureau of Labor Statistics