McDonald’s “McHire” website lists more than 50,000 jobs available in the US,
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The leisure and hospitality sector continues to drive US job gains, the Labor Department said.
Restaurants in particular are on a hiring frenzy as they experience a surge in dining.
Still, the US Travel Association estimates about 2 million open roles in leisure and hospitality.
The last few months have been rough on technology employees with several high-profile companies from Microsoft and PayPal laying off thousands of workers. Facebook parent company Meta is expected to announce a second round of layoffs this week.
Many of the technology companies that increased headcount during the pandemic are now cutting staff due to the uncertain economy and slowing growth.
While inflation and interest rates remain high, highly publicized layoffs in tech and other industries are seemingly being offset by a hiring frenzy in restaurants, bars, and hotels.
Leisure and hospitality is one of the key sectors driving job growth in the US over the past two months, according to the Labor Department, which released its February jobs report on Friday. The sector added 105,000 jobs in February, accounting for over one-third of all jobs added last month.
Restaurants and bars added 70,000 jobs in February after adding 99,000 jobs the month prior. Employment also continues to trend up in the travel accommodations segment and added 14,000 new workers.
The leisure and hospitality sector encompasses restaurants, hotels, arts, entertainment such as theme parks, and other tourism-oriented businesses.
Still a long way to go to meet demand
Restaurants, bars, and hotels can’t hire fast enough to fill jobs needed to serve a surge in demand in travel and dining.
Sales at food services and drinking places in January increased by 7.2% compared to December and 25.2% versus the year prior, according to US Census data. Travel spending also was 4% above pre-pandemic levels in January, according to the US Travel Association.
Both restaurants and hotels are getting closer to gaining back all the jobs lost during the pandemic. But they still have a ways to go.
According to the National Restaurant Association, restaurants that offer table service were down 311,000 jobs as of the end of 2022 compared to staffing levels in February 2020. The number is comparable to the travel accommodation sector, which is down roughly 327,000 jobs compared to pre-pandemic levels, according to …read more
Source:: Business Insider