March 26, 2017

Tourism Employment Stabilizes

After 8 consecutive quarters of job losses, employment related to the tourism industry grew 2.2% in the 2nd Quarter of 2010. Additionally, tourist expenditures increased 3.9% in the 2nd Quarter, according to the Bureau of Economic Analysis. Despite these positive results, employment in the tourism industry has declined 6.2% since the beginning of 2008, as the chart below shows. Undeniably, decreased positions in the tourism industry has been a part of how the national unemployment rate has escalated from 5.1% in March of 2008 to the current rate of 9.6%. Nonetheless, at least the plunging trend of tourism employment has ended.

Tourism employment increased in the last Quarter, albeit after an epic plummet.

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