The Post-Pandemic Labor Market

During the pandemic, the US economy lost 22 million jobs, and two years later, we have now re-created 21 million of those jobs, see the first chart below. The second and third charts show the sector distribution of the rebound in jobs. The level of employment in sectors within leisure and hospitality is still below pre-pandemic levels. In contrast, employment in industries such as air transportation, warehouses, and construction is now above pre-pandemic levels. The bottom line is that during the pandemic, we have seen a change in the composition of employment with solid growth in jobs in the goods sector and, more recently, strong growth in employment in the service sector. View our full employment report.

Chart showing the economy has regained nearly all jobs lost in the pandemic
Source: BLS, Apollo Chief Economist
Chart No. 1 showing job recoveries in various sectors
Source: BLS, Apollo Chief Economist
Chart No. 2 showing job recoveries in various sectors
Source: BLS, Apollo Chief Economist