Tag

Leisure And Hospitality

All articles tagged with #leisure and hospitality

labor-market-recovery2 years ago•2 min saved

US Labor Market Faces Obstacle to Full Recovery from Pandemic

While the US labor market has officially surpassed pre-pandemic levels, the accommodations industry, including hotels, remains the last major holdout in achieving full recovery. In September, employment in the food services and drinking places industry returned to its February 2020 level, but accommodations employment still stands 10.3% below pre-pandemic levels. This weakness in accommodations employment accounts for the entire employment gap in the leisure and hospitality industry, which is just 184,000 jobs short of February 2020 levels. Despite this, the overall labor market added 336,000 new jobs in September, indicating the economy's resilience.

via Yahoo Finance|

#accommodations-industry #employment-gap #labor-market-recovery

economy2 years ago•2 min saved

Private sector surpasses expectations, adding 324,000 jobs in July: ADP report

The private sector added 324,000 jobs in July, surpassing expectations, with a significant increase in leisure and hospitality jobs, according to payroll processing firm ADP. The job gains were driven by a jump of 201,000 in hotels, restaurants, bars, and related businesses. The report indicates that the U.S. job market remains strong despite efforts by the Federal Reserve to slow the economy. Services-related industries dominated job creation, while goods producers added fewer positions. Wages increased by 6.2% from a year ago, but growth slowed compared to previous months. The job gains were concentrated in smaller firms, while larger companies experienced a decline.

via CNBC|

#adp #economy #job-growth

business2 years ago•2 min saved

Industries struggle as Biden's economy grows.

While the US job market has been recovering since the pandemic, some industries are still struggling to regain their pre-pandemic workforce. The leisure and hospitality sector has the biggest shortage of workers, followed by government jobs, particularly public school teachers. Many workers in these industries found jobs in other sectors that paid more and reduced their exposure to people. Despite the shortage, public education jobs were slower to raise wages than other industries, likely due to state and local budget constraints.

via KABC-TV|

#business #labor-shortage #leisure-and-hospitality