Know how the US will start next month to improve the unemployment rate

The US labor market started 2022 in a much better way than predicted by analysts and in the first month of the year 467,000 jobs were created, while the unemployment rate stood at 4%.

This is pointed out by the data published this Friday by the Bureau of Labor Statistics (BLS), which show a more robust recovery in the labor market than expected.

While there were no surprises with unemployment -194,000 more unemployed and a rate of 4%- the number of new jobs was unexpected, in a context that seemed much more adverse due to the advance of the omicron variant of covid-19 during the beginning of the year and the end of 2021.

"The American employment machine is stronger than ever," said US President Joe Biden, who boasted of having achieved a historic figure of 6.6 million new jobs in his first year in office.

In his usual speech after learning the employment data, Biden pointed out that such a record is not remembered because "it has never happened" and it would be necessary to go back to the Presidency of Ronald Reagan (1981-1989) to see similar figures, and also considered historical the drop in unemployment in this year of recovery.

For Hispanics, with a labor force estimated at more than 30 million workers, the unemployment rate stood at 4.9%, according to the BLS.Among this community, unemployment reached 18.8% in March 2020, when the covid-19 pandemic began, and gradually fell to 4.9% last December.By population groups, Latinos are below African Americans, who have 6.9% unemployment, and above Asians, who have 3.6%. White unemployment stands at 3.4%Among the general population, for January, analysts had calculated a creation of 150,000 jobs, but the figure published today, of 467,000, far exceeds those forecasts.

Last month, the sector that contributed the most to job creation was leisure and hospitality, where 151,000 new jobs were registered, thanks mainly to the improvement in employment in bars and restaurants.

Professional services added 86,000 jobs to the labor market, thanks mainly to the push of consultancies, technical and technological servicesCommerce gained 61,000 employees, while 54,000 jobs were created in transportation.The unemployment rate is slightly higher among adult men (3.8%) compared to women (3.6%) while it rises to 10.9% in the adolescent workforce (between 16 and 19 years old).