Leisure and hospitality sector leads employment gains
RichLegg

In a jobs report that reflected a larger jump in employment than expected, the leisure and hospitality sector led the upside surprise.
For the month of September, nonfarm payrolls rose 263K against an expectation of 250K, bringing the unemployment rate down to 3.5% against a flat 3.7% expectation. The Bureau of Labor Statistics indicated that the ânotable job gains occurred in leisure and hospitality and in health careâ for the month.
Leisure and hospitality added 83K jobs in the month, continuing a trend of gains for the industry over the first 8 months of 2022. Employment in the food services and drinking places led the uptick, adding 60K jobs in the month. Total employment in the industry now stands just 6.7% below pre-pandemic levels.
Related stocks: McDonald's Corporation (MCD), Starbucks Corporation (NASDAQ:SBUX), Texas Roadhouse (TXRH), Restaurant Brands International (NYSE:QSR), Yum! Brands (NYSE:YUM), Wingstop (WING), Dominoâs Pizza (DPZ), Wendyâs (WEN), Aramark (ARMK), Dutch Bros (BROS), Shake Shack (SHAK), Darden Restaurants (DRI), Papa Johnâs International (PZZA), Dine Brands (DIN), Brinker International (EAT), Chipotle Mexican Grill (CMG), Hyatt Hotels Corporation (H), Intercontinental Hotels Group (IHG), Wyndham Hotels (WH), Choice Hotels International (CHH), Marriott International (MAR), Hilton Worldwide Holdings (HLT), Carnival Corporation (CCL), Norwegian Cruise Line Holdings (NCLH), Royal Caribbean Cruises (RCL), MGM Resorts (MGM), Caesars Entertainment (CZR), Penn Entertainment (PENN), Wynn Resorts (WYNN), and Vail Resorts (MTN).
Read more on the implications of the jobs numbers.