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American Hotels Support Nearly One in 25 U.S. Jobs

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Global Trade Daily, United states news

American Hotels Support Nearly One in 25 U.S. Jobs

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New research highlights hotel industry’s significant economic impact

American hotels support 8.3 million American jobs, which is equivalent to nearly one in 25 U.S. jobs, according to an economic analysis released today by the American Hotel & Lodging Association and Oxford Economics.

The study, which includes a breakdown of the hotel industry’s economic impact in every state and congressional district, provides a comprehensive look at how hotels are contributing to communities across the nation. It finds that in 2022 alone:

  • Hotel guests spent a total of more than $691 billion on lodging, transportation, food and beverage, retail and other expenses.
  • For each $100 of spending on lodging, hotel guests spent another $220 during their trip.
  • Hotels paid employees more than $104 billion in wages, salaries, and other compensation, and supported $463 billion in total wages, salaries, and other compensation.
  • Hotels directly generated $72.4 billion in federal, state, and local tax revenue and supported nearly $211.2 billion in total federal, state, and local tax revenue.

The top five states in 2022 for hotel guest spending were:

The top five states in 2022 for hotel wages, salaries, and compensation were:

The top five states in 2022 for hotel-generated federal, state, and local tax revenue were:

This hotel-related economic activity is resulting in unprecedented career opportunities for current and prospective hotel employees. As of March, national average hotel wages were among the highest ever at more than $23 per hour. Since the pandemic, average hotel wages have increased faster than average wages throughout the general economy. And hotel benefits and flexibility are better than ever.

According to the U.S. Bureau of Labor Statistics, as of April, hotel employment is down by more than 250,000 jobs compared to February 2020. Hotels are looking to fill many of the jobs lost during the pandemic, including more than 100,000 hotel jobs currently open across the nation.

To help hotels fill open jobs and raise awareness of the hotel industry’s 200+ career pathways, the AHLA Foundation’s “A Place to Stay” multi-channel advertising campaign is now active in 20 cities, including Atlanta, Baltimore, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, Nashville, New York, Orlando, Phoenix, San Diego, Tampa, Philadelphia, San Francisco, Detroit, Washington, Seattle, and Boston. For more info on the campaign, visit thehotelindustry.com.

 View the full report here.

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Archives, Commentary, Education, Global Trade Daily, Technology

The Positive Influence of Technology on Jobs and Its Future

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The advancement of technology has had a positive impact on jobs and its future. With the technological advances we have seen in recent years, many jobs that used to be done by humans can now be done by machines. This has led to an increase in efficiency and
productivity in the workplace, as well as a decrease in the need for human labor.

Some people may be worried that the increased use of technology will lead to a decrease in the number of jobs available, but this is not necessarily the case. While it is true that some jobs will become obsolete as technology advances, new jobs will also be created to replace them. For example, as automated machines become more common in manufacturing, there will be a need for workers who can operate and maintain them. In addition, the increased use of technology will also lead to new opportunities for entrepreneurs who are able to create innovative products and services that solve problems for people.

Overall, the positive influence of technology on jobs and their future is clear. With the continued advances in technology, we can expect to see even more positive impacts on the workplace and the economy in the years to come.

What new technology is going to impact jobs?

The internet of things, or the interconnectedness of physical objects and devices, is one area of technology that is set to have a big impact on jobs in the future. This technology has the potential to change the way we work, live, and play by increasing efficiency and productivity
in the workplace and beyond. For example, imagine a factory where all of the machines are connected to each other and can communicate with each other to get the job done. This would greatly increase the efficiency of the manufacturing process and, as a result, the need for human labor.

In addition, the internet of things also has the potential to create new types of jobs that don’t even exist today. For example, businesses will need people to manage and interpret the
data that is collected by all of these connected devices. As the internet of things becomes more prevalent, we can expect to see a whole new range of job opportunities that are created as a result. IT jobs are huge now, and consulting in IT services has become a needed service. Many people need help with all these new machines, and that means it’s a job for people.

What are some concerns about the future of technology and jobs?

While there are many positive aspects of the future of technology and jobs, there are also some concerns that need to be addressed. One of the biggest concerns is the potential for mass unemployment as a result of automation. As mentioned before, as automated machines become more common in the workplace, there will be a need for fewer workers to do the same job. This could lead to large-scale unemployment and a decrease in the standard of living for many people.

Another concern is the impact of technology on our privacy and personal data. With the increase in interconnectedness, there is also an increase in the amount of data that is being collected about us. This raises concerns about how this data will be used and who will have access to it. As we move into the future, it is important to make sure that we are able to protect our privacy and personal data from being mishandled.

What can be done to address these concerns?

There are a few things that can be done to address the concerns about the future of technology and jobs. First, it is important to invest in education and training so that people are able to adapt to the changing landscape of work. This will help to ensure that there are enough workers with the skills necessary to operate new technologies and fill the new types of jobs that are being created.

Second, it is important to create policies and regulations that protect our privacy and personal data. As we become more reliant on technology, it is important to make sure that we are not sacrificing our privacy in the process. We need to make sure that we have controls in place to protect our data and ensure that it is only being used for the purposes that we have agreed to.

Third, we need to be aware of the potential impact of technology on jobs and the economy. We need to make sure that we are not blindly adopting new technologies without understanding the potential implications. We need to consider the impact of technology on jobs and the economy before making decisions about how to use it.

By investing in education, setting privacy controls, and being aware of the potential implications, we can mitigate some of the risks associated with the future of technology and jobs.

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Archives, Global Trade Daily, Special Reports

Why Are Good Employees Leaving Your Company? 5 Tips To Keep Them.

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The job quitting isn’t stopping: a record 4.3 million workers left their jobs in August – a milestone that followed the April landmark of 4 million Americans exiting their companies.

Some people are leaving their jobs because the COVID-19 pandemic caused them to reconsider how much their companies value them. In that context, whether it’s a matter of pay, work demands, work-from-home flexibility, or overall culture, it’s important that businesses seeking stability and growth know how they can retain their best employees, says Michele Bailey (www.michelebailey.com), ForbesBooks author of The Currency of Gratitude: Turning Small Gestures into Powerful Business Results.

“With over 10 million employment vacancies, some people are leaving because they are confident they can find a better job, a better fit in line with the new perspective the pandemic has given them,” Bailey says. “So at this point, a good number of jilted employers should be asking themselves, ‘Why are talented people leaving my company? What can I do to change that, regain stability and grow?’

“The answer is often looking back in the mirror at them, and in how they treat people more as laborers than rare gems who are special – people who can make the workplace special. It’s fixable, but it’s all about putting your employees first.”

Bailey says in terms of retaining top employees, companies and their leaders should think about these points:

Know the cost of replacing good employees. One report shows that it costs 33% of a worker’s annual salary to hire a replacement if that worker leaves. “Clearly, retention and development of existing employees make the most sense if they are the right fit,” Bailey says.

Encourage professional development. Bailey says forward-thinking, growth-oriented companies hire talented people with the capability of taking on bigger responsibilities. “Professional development provides the opportunity for steps up in their career path,” Bailey says. “Employees who do not see a clear path are at risk of leaving.”

Build culture by acknowledging the whole person. “Work-life balance” has gotten a lot of attention during the pandemic, but Bailey says good leadership ensures that balance is in place by going the extra mile to know employees and to listen to their concerns, whether personal or professional. “The reality is that all of us bring our personal selves to work and our work selves home with us,” she says. “When something is going well or poorly in either space, it tends to seep into our attitudes and behavior in the other. When you address the overall wellness of your people as part of your business mandate, you have people well-aligned and rowing in the same direction.”

Create an army of brand ambassadors by empowering your employees. Employees who feel their voices are heard at work are nearly five times (4.6) more likely to feel empowered to perform their best at work. Employees who use their strengths every day are six times more likely to be engaged at work, 8 percent more productive, and 15 percent less likely to leave their jobs. “Many businesses tout themselves as collaborative workplaces with great cultures; however, worker frustration suggests that the reality is otherwise,” Bailey says. “A good culture is a place where they’re freed to flourish, energized, and proud to represent the brand to clients.”

Reward and recognize. “Showing gratitude to your workforce is imperative to having a successful business,” Bailey says. “Eventually people want you to show them the money – and you must if you truly value them – but frequent shows of gratitude in any form should be consistent and timely.”

“We can hold onto our talent and keep our people engaged,” Bailey says, “by creating an environment where employees become emotionally connected through gratitude to company leadership, to each other, and to the company’s purpose.”

__________________________________________________________________

Michele Bailey (www.michelebailey.com) is the ForbesBooks author of The Currency Of Gratitude: Turning Small Gestures Into Powerful Business Results. She also is founder/CEO of The Blazing Group, a brand and culture agency born of her strategy-first approach to business and desire to enhance employee wellness in pursuit of business goals. She is also the founder of My Big Idea®, a mentoring program designed to propel individuals toward their personal and professional goals. Bailey has been recognized for contributions to women and entrepreneurship with honors such as the Bank of Montreal Expansion & Growth in Small Business Award and the Women’s Business Enterprise Leader Award in 2020. Bailey is a popular speaker and is also the author of a previous book, It’s NOT All About You, It’s About the Company You Keep.

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Archives, Commentary, Global Trade Daily

The Best-Paying Construction Jobs

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It’s already been a busy year for construction, thanks to surges in new housing development and renovations, as well as changes to businesses brought on by the COVID-19 pandemic. These factors will likely accelerate already strong growth projections for the industry made prior to 2020. According to the U.S. Bureau of Labor Statistics (BLS), construction employment was projected to grow at a faster pace than average between 2019 and 2029—adding 4% more jobs, compared to 3.7% for other industries. Among the jobs anticipated to be most in demand are solar photovoltaic installers (up 50.5%), tile and stone workers (up 8.6%), and electricians (up 8.4%).

Those and other construction occupations tend to be financially rewarding relative to the level of education required for entry. The vast majority of construction jobs require no formal education or a high school diploma, yet they pay $906 per week—nearly as much as the $938 median weekly earnings of someone with an associate’s degree from college. The median earnings for high school graduates is $781 a week, while those without a diploma make $619.

While construction workers are generally paid well, their paychecks vary widely depending on where they work. The West Coast (including Alaska and Hawaii), pockets in the Midwest, and several Northeast states all pay construction workers higher hourly wages than the rest of the country. Hawaii and Illinois, for example, have a median hourly wage above $34, while Alaska and Massachusetts are around $30 per hour. Meanwhile, several states across the South pay as low as $18 per hour for construction work.

The type of construction work is also a major factor in how well employees are paid. Many of the higher rates fall to areas of specialization, like elevator installers, boilermakers, and pile-driver operators. However, general construction supervisors, inspectors, and more common tradespeople like electricians can also earn higher pay rates.

To find the best-paying construction jobs, researchers at Construction Coverage analyzed the latest data from the BLS. Occupations were ranked according to their median hourly wage. Researchers also included median annual wages, total and projected 10-year employment numbers, and the percentage of workers that are self-employed for each occupation.

Here are the best-paying construction jobs in the United States.

Occupation Rank Median hourly wage Median annual wage Total employed nationally Projected 10-year employment growth Percentage of workers that are self-employed

 
Elevator and Escalator Installers and Repairers     1    $42.57 $88,540 24,730 +6.6% N/A
First-Line Supervisors of Construction Trades and Extraction Workers     2    $32.61 $67,840 614,080 +4.8% 8.0%
Boilermakers     3    $31.42 $65,360 14,020 +0.9% N/A
Pile Driver Operators     4    $30.47 $63,370 3,820 +4.4% 2.2%
Construction and Building Inspectors     5    $30.22 $62,860 113,770 +3.2% 6.8%
Tapers     6    $28.58 $59,450 16,320 -4.0% 17.8%
Electricians     7    $27.36 $56,900 656,510 +8.4% 5.0%
Rail-Track Laying and Maintenance Equipment Operators     8    $27.10 $56,370 17,590 +3.4% N/A
Plumbers, Pipefitters, and Steamfitters     9    $27.08 $56,330 417,440 +4.3% 8.3%
Brickmasons and Blockmasons     10    $26.48 $55,080 59,940 -6.4% 26.8%
United States     –    $23.37 $48,610 5,937,830 4.0% 14.9%

 

For more information, a detailed methodology, and complete results, you can find the original report on Construction Coverage’s website: https://constructioncoverage.com/research/best-paying-construction-jobs-2021

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Archives, Commentary, Global Trade Daily, News

Job Market Trends and Their Effects on Companies

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The ongoing COVID-19 pandemic has touched just about every part of the economy, and the jobs market as a whole has gone into alarming freefall, despite the government’s job retention measures.

Where are the jobs going?

The sectors which have struggled most are, by and large, the ones you might expect. Aviation, hospitality, and retail have had to contend with unprecedented slumps in demand, and many businesses have responded by slashing their payrolls.

Even household names like HSBC have announced thousands of redundancies, albeit spread across the globe.

What is the economic outlook like?

According to the Guardian’s redundancy counter, more than 150,000 people have been made redundant, and more than nine million remain furloughed as of the 28th of July. Moreover, the number of employees on company payrolls tumbled during the lockdown period by around 649,000.

Though economic forecasts are not widely lauded for their reliability, the ones that are being focussed on by the mainstream media remain consistently bleak. According to the Office for Budget Responsibility, the body set up to advise the treasury, unemployment levels could skyrocket by the end of the year to levels not seen since the 1980s.

With that said, certain areas of the economy are now enjoying a surge in pent-up demand. Car dealerships are making sales faster than they can restock their forecourts; estate agents find themselves inundated with inquiries. Whether this can be sustained to the end of the year remains

The best-case scenario is a ‘v’-shaped recession – a sharp decline followed by an equally sharp uptick. This is a wildly different recession to the one experienced in 2008. The financial fundamentals which underpin the modern economy remain sound, and thus there’s some reason for cautious optimism – as articulated by the Bank of England’s Andy Haldane in June.

What can be done?

What does all this mean for businesses looking to navigate the post-COVID landscape?

Among the more popular shifts has been toward e-commerce. Retailers have tried to cope with sparse footfall by making the transition to trading online. E-commerce has, in fact, been in rude health through the pandemic, and it’s likely that this shift will outlast the pandemic itself.

Businesses may also wish to anticipate a fall in demand by being more cautious with their investments. Risk assessments and strategizing are set to be more crucial than ever, as is seeking out alternative forms of commercial finance from specialized online lenders.