The monthly Jobs Report for February came out last week. The numbers were up overall, though nothing significant for our industry.
For the overall Leisure and Hospitality sectors, there was a very slight uptick in the number of jobs reported in the data published by the U.S. Department of Labor’s Bureau of Labor Statistics. The number of jobs added in the entire sector is up .16 percent.
Experts and pundits are surprised by the gains—it was expected that the growth number would be below 200,000 new jobs created across all sectors. It is construction, education services, manufacturing, health care, professional and business services and mining that added the most jobs.
The United States Department of Labor tracks the Leisure and Hospitality industry as an umbrella classification that includes Amusements, Gambling and Recreation; Accommodation and Food Services.
Our Sector Benefits from Overall Decline in Unemployment
The report released on March 10, showed an increase of 235,000 jobs nationwide. Meanwhile, the U.S. unemployment rate moved down to 4.7 percent, compared with 4.8 percent in the January report.
Even a small percentage decline in the unemployment number should give hope to those who have been looking to get back to work in the Hospitality and Casino-Gaming sectors.
In Leisure and Hospitality the unemployment rate declined by just one-tenth of a point. Still, that’s good news for anyone looking for a job. Even the small percentage decline in the unemployment number should give hope to those who have been looking to get back to work in the Hospitality and Casino-Gaming sectors.
Crunching the Numbers
It’s hard to get excited by February’s numbers. However, we in the industry know that hiring will be ramping up for summer. While much of that will be seasonal, you can’t overlook the growth opportunity.
So, let’s look at the numbers:
- Leisure & Hospitality UP .16 percent
- Amusements, Gambling & Recreation UP .37 percent
- Accommodation & Food Service UP .15%