Employment Trends in Food Service and Accommodations
The accommodation and food services sector had another strong quarter, adding 28,400 net new jobs in December to close out the year. While this is impressive, the sector has certainly slowed from its booming pace in 2022, just one example of a slower overall labor market. As always (and by virtue of its sheer size), the food services sector outperformed the accommodation sector. Food services added 22,100 jobs in December, while the accommodation sector added 6,300. While these numbers are solid, we will be on the lookout for revisions to these initial ﬁgures. You might remember in September that the accommodation and food services sector was reported to have added 76,300 jobs. That number was revised down to 65,400. During the 2021-2022 recovery, there was a cluster of positive revisions. Now, the official data is coming in lower than the initial release. It’s something to keep in mind if we get another mammoth initial report.
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