December 2020 Jobs Report

For the first time in months, we saw a decrease in employment by 140,000 jobs. While this may appear concerning and a sign of a potential downward trend, there are more statistics and context worth mentioning that paint a more positive picture.

For example, professional and business services continued to see a growth in jobs, adding 161,000 in the field. Additionally, health care saw an increase of 39,000 jobs during the month of December.

While there was a 140,000 job decrease last month, the unemployment rate stayed steady at 6.7% — maintaining the lowest rate since the beginning of the pandemic. From where we were nine months ago, that still provides plenty of optimism. One other important factor to consider is that the drop in jobs is largely due to the surge in COVID-19 cases across the country. Analysts predict the drop in jobs will only be a temporary decrease as efforts to distribute and administer COVID-19 vaccines increases over the next several months.

2020 was quite a year and a difficult one for job seekers and employers. We’re hopeful that 2021 will bring more opportunities and positively impact the job market. If you’re looking for your next job opportunity, contact us today! We work with companies across the country looking to fill roles in a number of industries. Let us help you find your match.

Jobs report data is sourced from the U.S. Bureau of Labor Statistics and can be found in their latest report.