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Travel Continues to Lead in Job GrowthSeptember 9, 2013 By: Newswire Travel Agent
The travel industry continues to lead the way in our nation's employment recovery, adding 14,000 jobs in August and creating nine percent of all of the private sector jobs added last month—equal to the number of jobs added by the entire manufacturing sector, reports David Huether, senior vice president of research and economics at the U.S. Travel Association in his analysis of Friday's Labor Department jobs report.
"Within travel, food services and lodging experienced the most gains. Direct travel employment now stands at 7.8 million jobs. Travel employment has risen by 85,000 jobs so far this year. Bucking the overall trend in the rest of the economy, where job growth has been slower than in 2012, the travel industry added more jobs per month thus far in 2013 than in 2012," Heuther said.
"One of the main reasons our sector has been outperforming the rest of the economy in job growth is that travel exports, which support more than a million jobs, have been growing six times faster than other exports of goods and services so far this year. Being a labor-intensive industry, faster travel export growth from more international visitation to our country is translating into more American jobs, " Huether said.
"Since the economic recovery began in early 2010, the travel industry has created jobs at a 12 percent faster pace than the rest of the economy, and has already made up 91 percent of the jobs lost during the recession compared to just 78 percent of jobs for the rest of the economy, proving yet again that travel is a significant driver of our economy's growth and a leader in American job creation," Huether said in his analysis.