Foodservice Equipment Reports

Big Job Gains In November; Wages Finally Creep Higher, Too

The U.S. Bureau of Labor Statistics reported that nonfarm payrolls increased by 321,000 jobs in November, one of the biggest gains in almost five years. What heartened many economists even more was that wages and hours worked began to tick upward during the month. Stagnant wage gains have been a stubborn problem of this long recession. November was the strongest single month of job gains since January 2012 and marked the 10th straight month of increases of 200,000 or more, the longest stretch since 1994.

Job gains were widespread with big increases in professional and business services, retail trade, manufacturing, construction and healthcare. Eating and drinking places added another 27,000 jobs. Foodservice employment has increased by 321,000 jobs in the past 12 months.

The BLS also revised upward employment increases in September and October by 44,000.

Combined with the drop in gasoline prices, the positive employment picture bodes well for foodservice.

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