Economy: Going Out Is Good For The Economy

(Drivebycuriosity) - Last weeks´s U.S. employment report (plus 195.000 jobs in June, plus 202.000 in the private sector, minus 7.000 in the public) got a lot of attention. I want to focus on some statistical data that I found in a Wall Street Journal article (wsj.com): The paper commented that consumers are driving the recovery. "The star job creator in June was the leisure and hospitality sector—especially food and drink establishments—which provided over a third of all the new jobs in the private sector" (wsj.com). 

I like going out and I enjoy the food, the service and the company of different people. These numbers confirm that doing so is beneficial for the whole economy. Going out creates new jobs and income and keeps the economy running. This way a part of my going out expenditures are coming back, because a better economy improves my own situation. The numbers show that many people do so which creates a virtuous circle.

The data also confirm that many people (the consumers) ignore the still gloomy sentiment in the media and continue going out. So they confute the notorious drivel about the upcoming next recession.