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 559,000, slightly below analyst expectations but continuing a five-month increase in job growth. The unemployment rate declined by 0.3 percentage points to 5.8 percent.
Gains of almost 300,000 jobs in the leisure and hospitality industry drove much of the expansion.
“Year to date, ETS Dental has placed double the professionals this year compared to last year,” shares Mark Kennedy, President of ETS Dental. “Demand for new hires is also up over 100% from this same time in 2020. The recruiting consultants at ETS Dental are experiencing a record year for the company. The pandemic is on the downturn, patients are returning to dental practices, and practices are urgently hiring for all roles. Proactive practices have been recruiting for months in preparation for this rebound.”
Dental Employment and Market Analysis
Demand for dental services by patients is continuing its steady rise along with overall collection volume. Our team at ETS Dental continues to see a rise in demand for dentists and operations professionals across the country. If your practice or group is considering adding any roles in 2021, it is vital you plan now and start recruiting for these roles. We will see a spike in hiring by the end of the summer.
|Seasonally Adjusted [in thousands]|
|April 2020||Feb 2021||Mar 2021||Apr 2021||Change from Mar 2021 – Apr 2021|
|Offices of Dentists||689.2||999.0||1002.0||1006.7||4.7|
Other notes from the ADA HPI May survey:
- Recruiting for practice roles: Assistants (35.8% of practices seeking) are in the greatest demand followed by hygienists (28.8%), admin staff (26.5%), and dentists (13.1%)
- The vast majority of practices who are hiring are paying more than they were pre-pandemic to hygienists, assistants, and staff
- Dentist pay has remained the same; only 34.1% report paying associates more.
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
The BLS reported in May, 16.6 percent of the nonfarm workforce teleworked because of the pandemic. This was down from 18.3 percent in the prior month indicating an acceleration in the rate or return to on-site work as the vaccine and relaxed shut-down rules impacted worker behavior.
Economists predict that the labor market won’t fully recover until 2022 despite the current robust demand for workers. “We think it will take several months for frictions in the labor market to work themselves out,” said Michael Gapen, chief U.S. economist at Barclays. “That just means we shouldn’t be expecting one to two million jobs every month. Instead, it will be a more gradual process.”
Providing added detail on what is driving the relatively moderate rate of job recovery, Reuters’ reporter Lucia Mutikani observed, “Government-funded benefits, including a $300 weekly unemployment subsidy, are also constraining hiring. Republican governors in 25 states are terminating this benefit and other unemployment programs funded by the federal government for residents starting next Saturday. These states account for more than 40% of the workforce. The expanded benefits will end in early September across the country. That, together with more people vaccinated and schools fully reopening in the fall, is expected to ease the worker scarcity by September.”
In May, employment in leisure and hospitality increased by 292,000, as pandemic-related restrictions continued to ease in some parts of the country. Nearly two-thirds of the increase was in food services and drinking places (+186,000). Employment also rose in amusements, gambling, and recreation (+58,000) and in accommodation (+35,000).
Healthcare and social assistance added 46,000 jobs in May. Employment in healthcare continued to trend up (+23,000), reflecting a gain in ambulatory healthcare services (+22,000). Social assistance added 23,000 jobs over the month, largely in child daycare services (+18,000).
Employment in information rose by 29,000 over the prior month. Reflecting a return to a more normal pattern in the entertainment industry, job gains in May occurred in the motion picture and sound recording industries (+14,000).
Manufacturing employment rose by 23,000 in May. A job gain in motor vehicles and parts (+25,000) followed a job loss in April (-38,000).
Transportation and warehousing added 23,000 jobs in May. Employment increased in support activities for transportation (+10,000) and in air transportation (+9,000).
In other key industries, employment in wholesale trade increased by 20,000 in May, mostly in the durable goods. Construction employment edged down in May (-20,000), reflecting a job loss in non-residential specialty trade contractors (-17,000). Employment in professional and business services and retail trade remained relatively flat versus April.
In May, employment changed little in other major industries, including mining, financial activities, and other services.