The January jobs report exceeded expectations across the board, with unemployment rates dropping to 3.4% - the lowest level since May 1969, according to the U.S. Labor Department. The Bureau of Labor Statistics report showed the leisure and hospitality segment as the biggest winner, with an increase of 128,000 jobs in January.
January’s labor flow in leisure and hospitality was the strongest in the segment in months. In December, for instance, eating and drinking places added just over 26,000 jobs, while the sector added 59,400 jobs in November and just over 36,000 in October. The category's January report also bucks the trend in other categories, like technology and retail.
That said, the category overall remains below its pre-pandemic level by nearly 500,000 jobs, or nearly 3%.
