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Growth in Restaurant Jobs Double that of US Economy
WASHINGTON -- Job growth in the restaurant industry continues to outpace the overall economy two to one, reports the Bureau of Labor Statistics.
The bureau found that the economy added a net 203,000 jobs in November, which marked the third time in the last four months of gains of at least 200,000 jobs. Over the past four months, the economy averaged net gains of 204,000 jobs, which is sufficient to put downward pressure on the unemployment rate.
Restaurants and bars added a net 18,000 jobs in November, the 45th consecutive monthly gain, for a total of 1.1 million jobs.
During the first 11 months of 2013, restaurants and bars added nearly 300,000 jobs. Driven by these steady gains, restaurant-industry employment is on pace to show growth of 3.3% in 2013 -- more than double the 1.6% gain in total U.S. jobs. In addition, 2013 would mark the 14th consecutive year when restaurant job growth exceeded that of the overall economy.
In the National Restaurant Association's November 2013 tracking survey, 27% of operators said they expect economic conditions to improve in six months compared with 26% who expect the economy to worsen.
Published by The Business Journal, Youngstown, Ohio.
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