Restaurant Middle-class Job Growth Nearly Four Times Stronger Than Overall Economy

According to the National Restaurant Association, middle-class job growth in the restaurant industry has increased nearly four times stronger than the U.S. economy as a whole. Specifically, restaurant jobs grew 25 percent from March 2010 through February 2017. Currently, the restaurant industry is leading in both total job growth and middle class job growth.

Because of the need for scheduling flexibility in the restaurant world, the majority of restaurant employees are part-time. Only about 44 percent of restaurant employees work full-time/full-year schedules. Yet, from 2010 through 2015, restaurants added 5.4 percent of all middle class jobs in the U.S.

Key Takeaways:

  • The Bureau of Labor Statistics, which monitors US employment numbers, suggest that the most recent employment recovery of the US economy began around March 2010, proceeding until about February 2017.
  • In the half-decade between 2010 and 2015, it was noted that jobs, featuring total annual incomes between $45,000 and $74,999, in the restaurant sector, boomeranged by almost 50%.
  • Interestingly, due to the nature of the business, less than half of those employed in the restaurant sector, are full time employees.

“Not only are restaurants among the leaders in total job growth, they are also adding middle class jobs at a much stronger rate than the overall economy.”

Read more: https://www.restaurantnewsresource.com/article94029.html

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