Tight US labor market persists in service sector but loosens amongst knowledge workers
Recent data from the US Bureau of Labor Statistics has indicated slowdowns in certain sectors despite overall job gains in the labor market. Particularly, there seems to be a reversal of occuring in some of the sectors that saw large job growth during the pandemic, as warehousing and transportation services have lost jobs rather than continue to add new ones. The current labor market is tighter for service workers compared to knowledge workers, and the quit rates amongst American workers have dropped due to these changes. However, high worker turnover has persisted in the hospitality and retail industries, demonstrating the continuance of the Great Resignation in certain areas of the economy.
See "Tight US labor market persists in service sector but loosens amongst knowledge workers", Juliana Kaplan and Madison Hoff, Business Insider, March 13, 2023