Restaurant job growth outpacing overall economy
The National Restaurant Association's Chief Economist Bruce Grindy analyzed the recent jobs report from the Bureau of Labor Statistics and found that the growth rate in the foodservice sector continues to outpace the overall growth rate in the U.S.
During the first 11 months of 2013, eating and drinking places added nearly 300,000 jobs, setting the restaurant industry's employment rate to grow 3.3 percent for the year — more than double the 1.6 percent gain in total U.S. jobs. In addition, 2013 will represent the 14th consecutive year in which restaurant job growth outpaced the overall economy, according to an NRA news release.
Restaurant operators' outlook for the economy also marginally improved in November. In the National Restaurant Association's November 2013 Tracking Survey, 27 percent of restaurant operators said they expect economic conditions to improve in six months, while 26 percent expect the economy to worsen. This outlook is an improvement over operators' sentiment in October, when 19 percent said they expected the economy would improve and 28 percent thought conditions would worsen.
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