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Healthcare, Government, and Leisure: 3+ sectors leading the US Market

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March 2024’s results have defied all economists’ expectations, revealing a robust performance in the US labor market. Unemployment has decreased to 3.8%, with an impressive addition of 303.000 jobs. Economists noted that some sectors are leading the market, returning to pre-pandemic levels, which is highly promising.

Immigration has played a significant role in expanding the labor force, contributing to an additional 5.2 million jobs last year and helping to rebalance the labor market.

In March, 2024, these sectors accounted for 60% of the gains: Healthcare and Social Assistance, Government, and Leisure & Hospitality.

Here are the figures for the top-ranked sectors leading the US market:

  1. Healthcare and Social Assistance: Leading the pack is the Healthcare sector, which added 81.300 jobs;
  2. Government: A substantial 71.000 jobs were added in this sector;
  3. Leisure & Hospitality: Despite recent challenges, this sector is making a strong comeback with the addition of 49.000 jobs;
  4. Construction: 39.000 jobs added;
  5. Retail trade: 17,600 jobs added

Overall, the labor market is strengthening, and 2024 appears to hold further promise for continued growth.

Source: Jesse Pound, 2024 “Here’s where the jobs are for March 2024 — in one chart”, cnbc.com, April, 5th 2024, https://www.cnbc.com/2024/04/05/heres-where-the-jobs-are-for-march-2024-in-one-chart-in-one-chart.html

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