U.S. Hotel Job Growth Cooled Off in March
Key Points
- U.S. hotels added over 5,000 new jobs in March, indicating a slowdown from February.
- Leisure and hospitality, including hotels, contributed to 31% of the total U.S. job growth in March.
- Overall, the U.S. unemployment rate dropped slightly from 3.6% in February to 3.5% in March.
Summary
In March, U.S. hotels experienced a slowdown in job growth, adding over 5,000 new positions compared to larger increases in previous months. The leisure and hospitality sector, which includes hotels, accounted for 31% of the total job growth in the country. Despite this, the U.S. unemployment rate saw a slight decrease, moving from 3.6% in February to 3.5% in March.
Hotels added more than 5,000 new jobs in the United States in March, a big drop from the previous month's increase, and a possible sign the sector's job growth is slowing.
The U.S. Bureau of Labor Statistics revealed, in its monthly jobs report released on Friday, that leisure and hospitality — which includes hotels — added 72,000 jobs in November, representing roughly 31 percent of total jobs created in the U.S. Leisure and hospitality had added 105,000 jobs in February — 14,000 came from hotels. Overall employment in leisure and hospitality is 2.2 percent, or 368,000 jobs, below February 2020 levels.
The U.S. added 236,000 new jobs in March, a slight decrease from what economists had projected. The U.S. unemployment rate dropped slightly from 3.6 percent in February to 3.5 percent.
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