June Employment Data Shows Decline in Leisure and Hospitality Jobs

The June employment data indicates no increase in jobs related to the World Cup in the U.S. Despite anecdotal reports of increased tourism in host cities, the leisure and hospitality sector experienced a decline of 61,000 jobs in June. This sector, which includes restaurant and hotel employment, is particularly sensitive to tourism trends. Additionally, the previously reported increase of 70,000 jobs in May was revised down to 40,000. Over the past three months, the sector has averaged a loss of 9,000 jobs per month, contrasting with an average gain of 13,000 jobs monthly in the previous year. Analysts are observing whether the World Cup will impact local economies through retail sales and tax receipts. Employment data for metro areas will be released later this month. Jim Baird of Plante Moran Financial Advisors noted that forecasts for additional hiring to accommodate World Cup travelers did not materialize or were offset by losses in other areas.