David Huether, senior vice president of research and economics at the U.S. Travel Association, gives the following analysis on a Labor Department announcement that the U.S. economy added 165,000 jobs in April and the unemployment rate edged down slightly to 7.5 percent:
Huether's Statement
"The travel industry continues to lead the way to our nation's economic growth and recovery, adding 13,300 jobs in April and contributing eight percent of last month's overall employment gain, the highest share since August. With gains in nearly all major travel segment categories, including foodservices and drinking places, lodging, retail trade and airlines, direct travel employment now stands at 7.7 million.
"Moreover, employment growth in the travel industry is accelerating, averaging 13,000 per month so far this year, a significantly faster rate than the average gain of 4,000 monthly travel jobs measured during the last four months of 2012. The travel industry has added jobs 11 of the past 12 months.
"Since the economic recovery began in early 2010, travel has added jobs at a 15 percent faster pace than the rest of the economy, creating 398,000 jobs and making up 85 percent of the jobs lost during the recession compared to just 69 percent for the rest of the economy."
The U.S. Travel Association said one in eight U.S. jobs depend on travel and tourism, an industry ranked among the top 10 in 48 states and the District of Columbia.
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