Job Growth Concentrates in Government, Healthcare, Hospitality While Other Sectors Slow
• Job gains concentrated in just 3 industries (government, healthcare, hospitality) - 73% of 2023 growth • Workers in those industries still see strong hiring, pay gains (healthcare example) • Other sectors seeing slower hiring or job cuts (tech) - fueling layoff worries • Quit rate dropped below pre-pandemic levels in Feb. - sign of softer labor market • Unemployment ticked up to 3.9% in Feb. - highest in over a year