U.S. Cities Most Reliant on Tourism

Photo Credit: Alamy Photo Stock

The Bureau of Labor Statistics reported that the U.S. unemployment rate fell to 8.4 percent during the month of August. This represents a sizable decrease from the record high rate of 14.7 percent notched in April during the middle of the economic shutdown, but still millions of Americans remain unemployed.

The hospitality industry has been particularly hard hit by the COVID-19 pandemic. As of last year, over 14 million people (or 9.4 percent of all workers) were employed in accommodation and food services, which includes hotels, casinos, restaurants, and bars. However, the industry accounted for almost one-third of all job losses due to the pandemic. BLS data shows that the industry has gained back over 3.7 million jobs since April, but unemployment remains high, at 20.8 percent.

Photo Credit: Alamy Photo Stock
The Bureau of Labor Statistics reported that the U.S. unemployment rate fell to 8.4 percent during the month of August. This represents a sizable decrease from the record high rate of 14.7 percent notched in April during the middle of the economic shutdown, but still millions of Americans remain unemployed.
The hospitality industry has been particularly hard hit by the COVID-19 pandemic. As of last year, over 14 million people (or 9.4 percent of all workers) were employed in accommodation and food services, which includes hotels, casinos, restaurants, and bars. However, the industry accounted for almost one-third of all job losses due to the pandemic. BLS data shows that the industry has gained back over 3.7 million jobs since April, but unemployment remains high, at 20.8 percent.Read MoreBlog

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