, it accounted for roughly one-third of March's upswing. With 280,000 payroll additions last month, it added more jobs than any other sector.
Leisure and hospitality consists of arts, entertainment, and recreation, ranging from performing arts and museums to amusement parks. It also includes accommodation and food services, which contributed to 215,000 of the sector's added payrolls in March. Food services and drinking places fueled most of these additions, with 175,000 new jobs alone. It's becoming clear that eating out will be very important for the economic recovery.
While restaurants made huge job gains last month, the sector will also need Americans willing to spend on dining out for its recovery — along with that of the wider American economy. Americans seem to have already started doing that. For the seven days ending March 27, spending on restaurants and bars was up a whopping 200% year-over-year, per Bank of America card data. The more representative two-year change still showed an 11.9% increase. Overall, BofA found total card spending up 82% year-over-year and up 20% over two years for the period, signaling that trillions of federal stimulus are working.
Says this person
Glad the solution is fairly simple
Frivolous generation? And immense spending on restaurants during pandemic is financially right?
GrahamStephan