With More Stimulus Coming in March, What Do Employment Numbers Say About a True Recovery?

Last Friday, one day before the Senate passed President Biden’s sweeping $1.9 trillion stimulus package, the latest jobs report showed encouraging signs of recovery, as the U.S. economy added 379,000 jobs in February, exceeding expectations.

Leading the way, was the leisure and hospitality sector, adding 355,000 payrolls, with restaurants and bars accounting for the lion’s share of that total (+286,000). As several states eased restrictions and continued rolling out vaccinations, many Americans dipped their toes back into normal life, enjoying a meal or a drink outside after months of withdrawal.

But despite this upward trend, the leisure and hospitality sector remains heavily affected by the pandemic-induced jobs crisis. According to the BLS’ latest Employment Situation Summary, the number of jobs in leisure and hospitality still trails pre-pandemic levels by a massive 3.5 million. And as the following chart shows, the jobs recovery, in general, is going much lower than most had originally hoped…

Infographic: The State of the Jobs Recovery | Statista

Infographic originally published by Statista.com

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