The economy is growing better each year since the crash, but there’s mixed signals in there. Good read for those of us in the hospitality business than depend on people’s discretionary income. Growing is a lot better than shrinking or crashing, but the data is a mixed bag to be considered.
Here’s some more good news on growing number of full time jobs.
Drop me a note if you need help sorting out consumer behavior and profiting from trends in the beverage and food service markets. Cheers! TimTheBarGuy
The economy is rockin’ again! Sort of.
On Friday, the Labor Department reported that job growth surged in November. In the past 11 months, U.S. employers have added nearly 2.7 million jobs. That’s the fastest job growth we’ve had since 1999, a year in which the economy was truly robust, but also inching closer to a plunge.
So, is the economy as good as it was in 1999? Not quite.
Yes, employers have added more jobs in 2014 than what they added for the entirety of 2005—the next biggest year for job growth—but we are still a long way away from matching 1999. Back then, the economy was adding 262,000 jobs a month. Today’s average is 240,000. Put another way, employers would still need to add another 527,000 jobs in 2014 to match 1999’s record, and we only have one month to do it (not factoring revisions). So, we’re likely…
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