Travel industry employment reached an all-time high in November and logged its fifth consecutive month of growth, according to the U.S. Travel Association, which on Friday published an analysis of the U.S. Department of Labor's latest jobs report. According to the analysis, the travel industry added 8,500 jobs last month.
"The Labor Department announced today that the U.S. economy added 321,000 jobs in November -- the highest monthly increase since early 2012 -- with widespread gains in all sectors, while the unemployment rate remained unchanged at 5.8 percent," U.S. Travel Association Senior Vice President for Research and Economics David Huether said in a statement. "The travel industry benefitted from a fifth straight month of growth, adding 8,500 jobs this month, again reaching an all-time high. Albeit from a very high base, November's travel employment increase was slower than the 12-month average of more than 11,000 jobs per month, and less notable than growth in other industries."
Still, the overall picture is strong.
"Despite experiencing slower growth than the rest of the economy this month, the travel industry has been outpacing the economy -- growing 37 percent faster since the recession," Huether continued. "Total travel job growth in 2014 so far has been just shy of 120,000, and the industry has experienced positive growth in all but one month this year. If history is an indicator, December job growth will likely be higher than November, bringing the industry close to, if not surpassing, the increase of 140,000 jobs experienced in 2013."
U.S. Travel on Friday also reported an increase in travel exports.
"Separately, the U.S. Department of Commerce reported today that travel exports increased to $18.5 billion in October 2014, up slightly from September and only 3.1 percent lower than the recent peak of $19.1 billion in August. Travel continues to be a major force in overall export growth for the economy," Huether remarked. "So far this year, travel exports have accounted for 17 percent of total export growth; nearly one in every $8 spent on new U.S. exports this year has been from the spending of foreign travelers coming to the U.S."