- PROJECT HELP
- WHITE PAPERS
The restaurant industry is expected to finish 2013 with a job growth rate of 3.2 percent. This is according to new analysis from the National Restaurant Association's Chief Economist Bruce Grindy.
Restaurants added a net 27,000 jobs in Q3, which was less than one-fourth of jobs added in the industry for Q2. Still, year-end projections should top 3 percent for the second year in a row.
The Bureau of Labor Statistics' jobs report for September, released earlier this week, shows that the private sector added 126,000 jobs in September, compared to 100,000 in July, and 161,000 in August.
According to the NRA, the modest Q3 gain was a fraction of the 112,000 restaurant jobs added in Q2, and represented the smallest gain since Q1 2010, when the industry was starting to show signs of recovery from the recession.
However, restaurant industry job growth continues to be positive, and is predicted to end at 3.2 percent for the year. Comparatively, the overall employment gain is expected to be 1.6 percent.
The NRA says this will represent the 14th consecutive year in which restaurant-industry job growth outpaced the overall economy.
Read more about restaurant trends and statistics.
© 2014 Networld Media Group All rights reserved.