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Leisure and hospitality is where the majority of jobs will be for many years to come.Those leisure and hospitality jobs seem to be the norm this time of year despite those workers going on strike in LA and LV.
Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.Leisure and hospitality is where the majority of jobs will be for many years to come.
The agriculture sector used to be 98 percent of all jobs at our nation's founding. Now it is just 2 percent of jobs. However, it still rakes in serious money.
Mining, same. Manufacturing, same. Still very profitable, just less employees due to automation.
The future of jobs is in leisure and hospitality.
| Major industry group | Direct jobs | Supplier jobs* | Induced jobs** | Total indirect jobs |
|---|---|---|---|---|
| Agriculture, forest, fishing, and hunting | 100 | 93.6 | 134.8 | 228.5 |
| Mining | 100 | 224.0 | 166.0 | 390.0 |
| Utilities | 100 | 515.4 | 442.2 | 957.7 |
| Construction | 100 | 88.0 | 138.1 | 226.1 |
| Durable manufacturing | 100 | 289.1 | 454.9 | 744.1 |
| Nondurable manufacturing | 100 | 184.8 | 329.5 | 514.3 |
| Wholesale trade | 100 | 107.3 | 128.0 | 235.3 |
| Retail trade | 100 | 46.7 | 75.4 | 122.1 |
| Transportation and warehousing | 100 | 112.8 | 163.3 | 276.0 |
| Information | 100 | 252.0 | 321.1 | 573.1 |
| Finance and insurance | 100 | 149.7 | 214.7 | 364.4 |
| Real estate and rental leasing | 100 | 396.6 | 483.1 | 879.7 |
| Professional, scientific, and technical services | 100 | 142.1 | 276.2 | 418.3 |
| Management of companies | 100 | 144.4 | 255.4 | 399.9 |
| Administrative and support services and waste management | 100 | 45.5 | 89.1 | 134.5 |
| Educational services | 100 | 63.8 | 129.9 | 193.7 |
| Health care and social assistance | 100 | 69.4 | 136.2 | 205.6 |
| Arts, entertainment, and recreation | 100 | 123.3 | 255.2 | 378.5 |
| Accommodation and food services | 100 | 53.8 | 107.4 | 161.2 |
| Other services (except public administration) | 100 | 70.7 | 139.6 | 210.3 |
Trump doesn't believe the numbers. But if he wins, the minute that number improves even .001%, suddenly he's a believer again.Half a million jobs in one month
Impressive
All true Patriotic Americans are happy today !Holy moley! What great news! This will cause a lot of Trumptard butts to burn.
Ordinarily, when there is great jobs growth when a D is in the White House, the tard herd invariably whines, "B-b-b-b-b-but LFPR!"
Sadly for them, the Labor Force Participation Rate is higher than it ever was during the Trump regime.
So it's good news all around, and bad news for those who want to see our country fail.
Private sector companies added 497,000 jobs in June, more than double expectations, ADP says
The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected.www.cnbc.com
The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected, payroll processing firm ADP reported Thursday.
Private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow Jones consensus estimate. The increase resulted in the biggest monthly rise since July 2022.
From a sector standpoint, leisure and hospitality led with 232,000 new hires, followed by construction with 97,000, and trade, transportation and utilities at 90,000.
Labor force participation rate for people ages 25 to 54 in May 2023 highest since January 2007
Yes, 490K is impressive. But 373K are service jobs which happens every summer.Half a million jobs in one month
Impressive
The Biden economy is soaring
Thank you Biden. I guess you avoided that recession Republicans said was coming.
Also thanks for fixing inflation. You are a great President.
2019WHen is a Republican ever going to have an economy this good??
Mammoth Mountain still has snow. In July.Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.
And where there are manufacturing companies, there are tier 1, 2 and 3 suppliers.
AND, when manufacturing is doing well, they spend a lot of money at restaurants, hotels, airlines, car rentals. In other words, even leisure and hospitality benefit from manufacturing jobs.
Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.
Employment multipliers per 100 direct jobs, by major private-sector industry group
Major industry group Direct jobs Supplier jobs* Induced jobs** Total indirect jobs Agriculture, forest, fishing, and hunting 100 93.6 134.8 228.5 Mining 100 224.0 166.0 390.0 Utilities 100 515.4 442.2 957.7 Construction 100 88.0 138.1 226.1 Durable manufacturing 100 289.1 454.9 744.1 Nondurable manufacturing 100 184.8 329.5 514.3 Wholesale trade 100 107.3 128.0 235.3 Retail trade 100 46.7 75.4 122.1 Transportation and warehousing 100 112.8 163.3 276.0 Information 100 252.0 321.1 573.1 Finance and insurance 100 149.7 214.7 364.4 Real estate and rental leasing 100 396.6 483.1 879.7 Professional, scientific, and technical services 100 142.1 276.2 418.3 Management of companies 100 144.4 255.4 399.9 Administrative and support services and waste management 100 45.5 89.1 134.5 Educational services 100 63.8 129.9 193.7 Health care and social assistance 100 69.4 136.2 205.6 Arts, entertainment, and recreation 100 123.3 255.2 378.5 Accommodation and food services 100 53.8 107.4 161.2 Other services (except public administration) 100 70.7 139.6 210.3
Half a million jobs in one month
Impressive
I see my point has sailed right over your head.Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.
And where there are manufacturing companies, there are tier 1, 2 and 3 suppliers.
AND, when manufacturing is doing well, they spend a lot of money at restaurants, hotels, airlines, car rentals. In other words, even leisure and hospitality benefit from manufacturing jobs.
Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.
Employment multipliers per 100 direct jobs, by major private-sector industry group
Major industry group Direct jobs Supplier jobs* Induced jobs** Total indirect jobs Agriculture, forest, fishing, and hunting 100 93.6 134.8 228.5 Mining 100 224.0 166.0 390.0 Utilities 100 515.4 442.2 957.7 Construction 100 88.0 138.1 226.1 Durable manufacturing 100 289.1 454.9 744.1 Nondurable manufacturing 100 184.8 329.5 514.3 Wholesale trade 100 107.3 128.0 235.3 Retail trade 100 46.7 75.4 122.1 Transportation and warehousing 100 112.8 163.3 276.0 Information 100 252.0 321.1 573.1 Finance and insurance 100 149.7 214.7 364.4 Real estate and rental leasing 100 396.6 483.1 879.7 Professional, scientific, and technical services 100 142.1 276.2 418.3 Management of companies 100 144.4 255.4 399.9 Administrative and support services and waste management 100 45.5 89.1 134.5 Educational services 100 63.8 129.9 193.7 Health care and social assistance 100 69.4 136.2 205.6 Arts, entertainment, and recreation 100 123.3 255.2 378.5 Accommodation and food services 100 53.8 107.4 161.2 Other services (except public administration) 100 70.7 139.6 210.3
Traitor MAGA trash are triggered by Job Biden's booming success on the economy.How many of these jobs are just basic recovery from all the jobs lost during the COVID shutdown of the economy?
How's the federal response to rate hikes going?
