Summary of the Bureau of Labor Statistics Monthly Employment Situation Report – April 2021
The U.S. Bureau of Labor Statistics (BLS) today reported total nonfarm payroll employment increased by 266,000, continuing a four month increase in job growth but significantly below consensus estimates. Unemployment rate increased slightly to 6.1 percent, well below its April 2020 high of 14.7 percent.
Job growth was led by continued robust expansion in the leisure and hospitality industry.
The BLS reported 18.3 percent of all non-farm employed persons teleworked because of the coronavirus pandemic, down from 21.0 percent in March. These data likely reflect an acceleration of workers returning to traditional workplaces as schools re-open for onsite education and the vaccine is more widely available.
Dental Employment and Market Analysis
ETS Dental’s team of recruiting executives is seeing a growing demand for dental professionals across the nation. Dental practices, groups, and DSOs are seeking talented pros who will lead the coming growth expected as patients continue to return for dental services put off for the past year. We continue to hear from practice owners and DSOs alike that finding Hygienists is very challenging to near impossible in some areas. Compensation offerings for these roles are up to $50+ per hour in some areas.
Dental Students are aggressively seeking employment opportunities throughout the country. The vast majority are focused on major metro areas. Employment levels of dentists are steady. Only 3.5% report not being paid at all.
|Seasonally Adjusted [in thousands]|
|April 2020||Feb 2021||Mar 2021||Apr 2021||Change from Mar 2021 – Apr 2021|
|Offices of Dentists||436.3||992.8||997.2||1,000.9||3.7|
- DSOs and Rural practices continue to see the largest gains in Patient Volume and Total Collections
- Total Patient Volume and Total Collections made the biggest jump up since Summer 2020
- Job postings are down from previous years leading to more applications per job posting for Dentists.
- Openings for management roles, dental assistants, and hygienists are consistently available.
Source and full reporting can be found at https://www.ada.org/en/science-research/health-policy-institute/covid-19-dentists-economic-impact/private-practice
As noted by Reuters reporter Lucia Mutikani, a shortage of workers probably contributed to the muted April results. “U.S. employers hired far few workers than expected in April, likely frustrated by labor shortages, leaving them scrambling to meet booming demand as the economy reopens amid rapidly improving public health and massive financial help from the government. From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements, and generous unemployment checks, are blamed for the labor shortages. The moderate pace of hiring could last at least until September when the enhanced unemployment benefits run out.”
Echoing those same sentiments, Wall Street Journal reporters Sarah Cambon and Gwynn Guilford note, “Higher vaccination rates, fiscal stimulus and easing business restrictions are converging to support stronger spending across the U.S. But many businesses are reporting they can’t find enough workers, a phenomenon that could restrain economic growth in the coming months.”
In April, employment in leisure and hospitality increased by 331,000, as pandemic-related restrictions continued to ease in many parts of the country. More than half of the increase was in food services and drinking places (+187,000). Job gains also occurred in amusements, gambling, recreation (+73,000) and in accommodation (+54,000).
Jobs increased by 44,000 in the other services sector and by 31,000 in local government education.
Employment in financial activities rose by 19,000 over the month, with most of the gain occurring in real estate and rental and leasing.
Manufacturing employment edged down in April (-18,000), following total gains of 89,000 in the previous two months.
Employment levels in retail trade, healthcare, construction, and information technology remained virtually unchanged versus the prior month.