Based on the forecast data for the Accommodation and Food Services Sector in the US, the number of employees increased steadily from 2023 to 2028. In 2023, the sector employed approximately 13.68 million people.
Year-on-Year Variations:
- 2024: +1.10%
- 2025: +1.08%
- 2026: +1.07%
- 2027: +1.13%
- 2028: +1.05%
The Compound Annual Growth Rate (CAGR) over the last five years (from 2023 to 2028) is projected to be approximately 1.08% annually.
Future Trends to Watch:
- Automation and increased use of AI in food service and accommodation.
- Continued impact of economic cycles on employment rates.
- Potential labor shortages and wage pressure.
