Sung Won Sohn, professor of finance and economics at LMU, commented on the labor market in June, which saw the largest drop in leisure and hospitality employment since December 2020. “June is usually a strong month for travel, restaurants, hotels, and entertainment. Some of this may be payback after earlier strength, but it also raises a broader concern; lower-income consumers may be pulling back, and service employers may be less confident about summer demand.”
Source: Reuters