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October 6, 2014

Report: Travel Industry Added 8,000+ Jobs to U.S. Economy in August




Late last week, the U.S. Labor Department announced announced that the country had added 248,000 jobs in September while the unemployment rate dipped below six percent to 5.9 percent for the first time since July 2008.

Significantly, David Huether, senior vice president for research and economics at the U.S. Travel Association, noted that of those jobs, 8,700 were in the travel industry, four percent of overall non-farm employment added last month

"Travel has added jobs 11 of the past 12 months and has expanded payrolls by 129,000 over the past year," Huether said in a statement. "Travel employment now stands at 7,998,000 direct jobs—just shy of eight million workers.

After losing close to half a million jobs in the Great Recession (or Global Financial Crisis), Huether said that the travel industry has added 771,000 jobs and has outpaced job creation in the rest of the economy by 38 percent since the employment recovery began.

Separately, the U.S. Department of Commerce reported that travel exports increased to $19.2 billion in August, up $0.2 billion from July. Travel continues to be a major force in overall export growth for the economy.

"Through August, total U.S. exports are up $49 billion compared to the first 8 months of last year, and travel exports accounted for 17 percent of this increase. Moreover, so far this year, travel exports have increased by 5.5 percent compared to last year, which is 84 percent faster than other U.S. export growth.

As documented in U.S. Travel's latest research report on Travel Exports, growth in travel exports has been a central reason why travel is responsible for creating jobs faster than the rest of the economy in recent years. Every $1 million in travel exports supports 6.6 American jobs.

 


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