As of December 2013, the travel industry has recovered 99 percent of the jobs it lost during the Great Recession, putting it just 5,000 jobs shy of its pre-recession employment level, according to the U.S. Travel Association, which last week released an analysis of the U.S. Department of Labor’s December jobs report. By contrast, the rest of the economy has recovered just 86 percent lost jobs.For a recap of last week's top stories, check out MeetingNews Minute:
“Moreover, the travel industry stands just 57,000 short of its record employment level set in December 2000,” U.S. Travel Association Senior Vice President for Research and Economics David Huether said in a statement. “With the travel industry on average creating 10,000 jobs per month in 2013, and with the growth of travel employment on an accelerating path, a new record level of employment in the travel industry is likely around mid-year in 2014.”
According to Huether’s analysis, the travel industry added 11,000 jobs in December, accounting for 15 percent of the country’s overall employment gains.
“Looking back at 2013, while the overall economy created fewer new jobs during the past 12 months, the 119,000 jobs created by the travel industry was actually 22,000 more jobs than were added in 2012,” Huether concluded. “Since the overall employment recovery began in early 2010, the travel industry has been adding jobs at a 9 percent faster rate than the rest of the economy.”
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