November jobs report showed a slowdown in hiring at restaurants and hotels

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The dismal November jobs report showed a massive slowdown in hiring at restaurants and hotels

We are so sorry! We bumped into a system failure and couldn’t take your email this time.There were onlyadded in November, coming in below the median estimate of 550,000 from economists surveyed by Bloomberg. This comes after October's gain of over half a million, at 546,000.

After two months of job gains of over 100,000, leisure and hospitality saw a gain of just 23,000. Instead, leading the way in November's gains was the professional and business services industry, with 90,000 jobs. "I think what's going on here is that the Delta wave is lingering. Even though there has been improvement in the public health situation, cases are still elevated — if not rebounding," Zhao said."That has a disproportionate impact on COVID-sensitive industries like leisure and hospitality and retail.

"I think one of the big questions about the economy and the labor market in general is, are we going to see this relative shift away from goods and towards services?" Bunker said."The continued strength for transportation and warehousing does suggest that that shift is not happening quite yet, because there's still strong demand for getting goods to customers." are pointing out that there seem to be two stories.

 

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Hey look at that, the exact opposite of what some of those blowhards are pushing

令人沮丧的11月就业报告显示,餐馆和酒店的招聘大幅放缓

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