Washington,
D.C. - April 8, 2013 – David
Huether, senior vice president of research and economics at the U.S.
Travel
Association, provides analysis on today's U.S. employment and exports
numbers:
- "The
American travel industry is leading, yet again, our nation's economic
growth
and recovery.
- "While
the rest of the economy added jobs at a slower rate in March, the
travel
industry bucked the trend and added 7,000, or 8 percent, of the 88,000
new
jobs. Direct travel employment now totals 7.7 million.
- "Since
the economic recovery began in early 2010, travel has expanded
employment at a
10 percent faster pace than the rest of the economy, adding 365,800
jobs and
making up more than three-quarters of the jobs lost during the
recession
compared to two-thirds for the rest of the economy.
- "Of the
$186 billion in U.S. exports in February, travel accounted for $14.3
billion,
rising by $72 million over January and reversing a one-month decline.
U.S.
travel exports rose 7.2 percent through the first two months of this
year over
the same period in 2012, 2.5 times faster than the growth of other U.S.
exports. Because of this faster growth, the travel industry has
generated 17
percent of the overall increase in U.S. exports this year compared to
the first
two months of 2012.
- "Travel
continues to be a key driver in growing our nation's exports, with the
monthly
trade surplus in travel exceeding $4 billion in February. In fact, the
travel
industry posted a record $50 billion trade surplus in 2012, larger than
those
generated by the agricultural sector or any of the major manufacturing
industries.
- "These
numbers are proof positive that welcoming travelers to our shores is a
powerful
engine of economic growth for our country that will create more
American jobs.
We urge policymakers to support the travel industry by exempting critical travel functions from
sequestration's
budget reductions and to enact critical proposals, such as those
included in
the Jobs Originated through Launching Travel (JOLT)
Act, H.R.
1354."Huether is available for further analysis and
comment.
The U.S. Travel
Association is the national, non-profit organization
representing all
components of the travel industry that generates $1.9 trillion in
economic
output and supports 14.4 million jobs. U.S. Travel's mission is to
increase
travel to and within the United States. Visit www.ustravel.org.
Follow us on Twitter @ustravel
|