US Travel and Tourism Employment Report – September 2021
As of the September 2021 jobs report, leisure and hospitality employment sits 9% below its pre-pandemic level; this is three percentage points worse than the next hardest-hit industry. After averaging 349,000 new L&H jobs per month between January and July 2021, the pace slowed to an average of just 56,000 new L&H jobs in both August and September 2021–a rate that would delay recovery until early 2023.
What you will learn:
- The leisure & hospitality industry accounted for 11% of pre-pandemic employment in the United States yet represents 32% of all job losses as of September 2021.
- The disappointing 194,000 total jobs gain in September marked the lowest monthly gain since December 2020. The services sector added 265,000 jobs –its weakest gain since January –as hiring slowed at restaurants and hotels.
- In September, 183,000 people exited the labor force, resulting in the labor force participation rate declining 0.1 percentage points to 61.6%.
Tags:
Related Services
Post
Relative return index signals improving CRE attractiveness
Our latest global relative return index (RRI) signals that risk-adjusted investment opportunities in commercial real estate (CRE) should start to emerge this year before becoming more widespread in 2025. At this point, our baseline expected returns move higher than required returns, pushing the global all-property index above the 50 mark.
Find Out More
Post
South Africa: Elections 2024 | ‘ANC & friends’ election scenario
This Research Briefing sets out the first of four scenarios for South Africa's general election on May 29. In this scenario, the ANC wins over 46% of the vote share at the national level, and forms a government by working with small, constituency-based parties.
Find Out More