This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hospitality Sector Adds 17,000 Jobs in July

(Hospitality sector job growth article updated with analyst commentary.)

NEW YORK (TheStreet) -- The U.S. economy added 17,000 jobs in the leisure and hospitality sector in July, with a majority of the gains coming in the arts, entertainment and recreation.

While job growth is certainly better than job reductions, July's gains were less than half the gains seen in June, when the leisure and hospitality sector added 35,900 jobs, according to data from the U.S. Bureau of Labor Statistics.

"Industry data has been showing increased lodging demand for many quarters now," Rodman & Renshaw analyst Robert LaFleur told TheStreet. "More demand equals more occupied rooms which equals a greater need for desk clerks, bellmen, maids, laundry workers, etc. Regardless of what the stock market might make you think, business in the hotel industry gets a little bit better every day than it was the day before and that is good for employment."

Of the 17,000 new jobs last month, 13,500 were classified under arts, entertainment and recreation. Jobs in performing arts and spectator sports, which includes Madison Square Garden (MSG) in New York City and Live Nation Entertainment (LYV), added 5,500 jobs last month as large arenas and concert venues geared up for the summer concert season, though clearly much of the hiring had been done earlier in the season since the subsector added 14,400 jobs in June.

Amusement parks like Six Flags Entertainment (SIX) and casinos like Wynn Resorts (WYNN), Las Vegas Sands (LVS) and MGM Resorts (MGM) added 7,400 jobs in July. As in arts, entertainment and recreation, the amusement, gambling and recreation subsector had completed much of its seasonal hiring early on; the subsector added 17,200 jobs in June.

Museums, historical sits, zoos and parks showed the slimmest gains within leisure and hospitality last month, adding just 600 jobs, after hiring 2,700 workers in June.

Accommodation and food service jobs, which includes restaurants like McDonald's (MCD) and Starbucks (SBUX), and hotel chains like Marriott (MAR) and Starwood (HOT), grew its workforce by 3,000 jobs in July, after hiring 29,300 jobs in June, in anticipation of the summer travel season and as travel trends in general began to pick up steam.

The overall employment rate fell to 9.1% in July, from 9.2% in June.

-- Written by Miriam Marcus Reimer in New York.



>To contact the writer of this article, click here: Miriam Reimer.

>To follow the writer on Twitter, go to http://twitter.com/miriamsmarket.

>To submit a news tip, send an email to: tips@thestreet.com.

READERS ALSO LIKE:








Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs