- WHITE PAPERS
More than six years after the start of the Great Recession, the number of private sector jobs finally surpassed its pre-recession peak in March, according to preliminary figures from the Bureau of Labor Statistics. The private sector added a net 192,000 jobs in March on a seasonally adjusted basis, the strongest monthly gain since November.
Also, according to a news release from the National Restaurant Association, the restaurant industry added more than 30,000 jobs in March, the 49th consecutive monthly gain and strongest increase since October.
Overall, private sector employment now stands 110,000 jobs above its January 2008 pre-recession peak, after which the private economy lost nearly 8.8 million jobs.
In comparison, the restaurant industry surpassed its pre-recession employment peak in September 2011, and now stands nearly 900,000 jobs — or 9.2 percent — above the previous high.
The NRA said the outlook for continued restaurant job growth remains positive. In its March 2014 Tracking Survey, 22 percent of restaurant operators said they expect to employ more people in six months than they did during the same period in 2013. This represented the highest proportion of operators expecting job growth in seven months.
In comparison, only 13 percent of restaurant operators plan to cut positions in six months (compared to the same period in 2013), while the remaining 65 percent expect their staffing levels to remain about the same.