Despite employers adding 428,000 jobs in April across a broad number of industries, productivity decreased 7.5% in Q1 2022, the largest decline since 1947, and labor costs increased at an unsustainable 7.2% over the last four quarters, the largest four-quarter increase since 1982.
Telework decreases: In April, 7.7% of employed persons teleworked because of the pandemic, down from 10.0% in March.
Finance and insurance (23.2%), Professional and technical services (22.6%) and Information (19.5%) industries had the highest numbers of teleworkers.
Six industries accounted for two-thirds of the April gains:
Leisure and hospitality (+78,000);