Investment Updates
Turning The Page On A Dark Period In History
Published Friday, March 4, 2022 at: 7:39 PM EST
The U.S. created nearly twice the number of new jobs in February than was expected, and hospitality was the No. 1 job-producing sector of the economy for the second month in a row. The pandemic’s grip on restaurants, hotels, and malls weakened and the nation may finally be turning the page on a dark period in history.
Employment in leisure and hospitality continued to increase, with a gain of 179,000 in February, the U.S. Government said today. Job growth occurred in food services and drinking places (+124,000) and in accommodations (+28,000). Since February 2020, employment in leisure and hospitality is down by 1.5 million, or 9%. Its comeback is a detail lost in the details reported in the financial press after Friday morning’s data release by the Bureau of Labor Statistics (BLS).
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