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The Good News
Pg 4 - The Sunshine Express
2012 July
2011 Better Than Reported
WIDESPREAD ECONOMIC GROWTH ACROSS
STATES IN 2011
Real gross domestic product (GDP) increased in 43
states and the District of Columbia in 2011, accord-
ing to new statistics released June 5 by the U.S. Bu-
reau of Economic Analysis (BEA) that breakdown
GDP by state. Durable­goods manufacturing,
in 42 states and the District of Columbia. It was the
As a result, restaurants from coast to coast are look-
professional, scientific, and technical services, and
largest contributor to real GDP growth in Colorado
ing to hire hundreds of thousands of additional
information services were the leading contribu-
and Utah.
employees to support the influx of local customers,
tors to real U.S. economic growth. U.S. real GDP
Even though mining was not a major contributor to
travelers & tourists throughout the warmer months.
by state grew 1.5 percent in 2011 after a 3.1 percent
real GDP growth for the nation, it was a large con-
The National Restaurant Association projects that
increase in 2010.
tributor in several states. In North Dakota, the fastest
the restaurant industry will add 450,000 jobs over
Real GDP increased in all eight BEA regions in
growing state in 2011, mining contributed 2.81 per-
the course of summer 2012 - the largest increase in
2011, although growth slowed in most regions. The
centage points to real GDP growth of 7.6 percent.
summer jobs since 1993. And those 450,000 posi-
Far West (2.1 percent) was the only region where
(source: www.bea.gov)
tions are spread far and wide - from New York to
growth accelerated. The Southwest region grew the
(Publisher's note: North Dakota consistently out-
California and beyond. The states projected to add
fastest (2.7 percent), led by Texas with a 3.3 percent
performs due to their state's banking system. Hav-
the most eating and drinking place jobs during this
increase.
ing the only state-owned bank in the nation, Bank
summer season are New York, California, Massachu-
Durable­goods manufacturing was the largest con-
of North Dakota acts as a funding resource in part-
setts, Texas and New Jersey. Typically, available jobs
tributor to U.S. real GDP by state growth in 2011.
nership with other financial institutions, economic
range from full-time managerial requiring previous
This industry increased 7.9 percent in 2011, after
development groups and guaranty agencies in four
hospitality industry experience, to part-time entry-
increasing 17.0 percent in 2010. It was the lead-
established business areas: Student Loans, Lending
level with no experience required. Many restaurants
ing contributor to real GDP growth in six of the
Services, Treasury Services and Banking Services.
post "now hiring" signs in their windows, but job
eight BEA regions and in 26 states. Durable­goods
Credit is merely a legal agreement, a "monetization"
seekers should also keep an eye out for listings in
manufacturing contributed 3.94 percentage points
of future proceeds, a promise to pay later from the
local papers and online job boards.
to growth in Oregon and 1.17 percentage points to
fruits of the advance. Banks have created credit on
From servers and cashiers to chefs and managers,
growth in Michigan.
their books for hundreds of years, and this system
the restaurant industry offers a wide array of oppor-
Professional, scientific, and technical services and
works quite well if not for the enormous tribute
tunities, making it a great place to start a job search
information services were also leading contributors
siphoned off to private coffers in the form of interest.
this summer, whether you're looking for a part-time
to U.S. real GDP by state growth. Professional, sci-
A public banking system overcomes that problem by
job to supplement your income or begin a career
entific, and technical services increased 4.9 percent
returning the interest to the public purse.
in foodservice. In fact, many employees who now
in 2011, matching its 2010 growth rate. This indus-
Bank of North Dakota operates as a bankers' bank,
enjoy long-term, rewarding careers in the restaurant
try contributed to growth in all eight BEA regions
loaning debt-free money to farmers, real estate
industry got their foot in the door with a summer
and in every state, and was the leading contributor
developers, schools, students, and small businesses,
job. That's because, regardless of position, one thing
in the District of Columbia, Virginia, Massachu-
administered through a system of public banks dedi-
all jobs in the restaurant industry have in common
setts, New York, Maryland, New Jersey, Florida,
cated to serving the public interest, administering
is opportunity for advancement. The industry is full
and Arkansas.
credit as a public utility.
of people who have gone from the dish room to the
Information services, which includes publishing
The state legislature established the Bank of North
boardroom and beyond. In fact, eight in 10 restau-
and telecommunications, accelerated in 2011, in-
Dakota in 1919 to free farmers and small business-
rant owners started at entry level, and nearly nine in
creasing 5.1 percent after increasing 3.0 percent in
men from the clutches of out-of-state bankers.
10 restaurant employees say restaurants provide the
2010. This industry contributed to real GDP growth
opportunity to start at the bottom and move up to
Since 2000, North Da-
management.
kota's GNP has grown
Even if personal career goals don't call for a long-
56%, personal income
term stay in the restaurant industry, the professional
has grown 43%, and
development and management skills learned help
wages have grown 34%.
millions of Americans succeed in their careers no
This year the state has
matter which industry they end up choosing - one-
a budget surplus of $1.2
third of Americans got their first job experience in
billion!)
a restaurant. It's actually quite a challenge to find
A Major Source
someone who can't share a story about working in a
Of Jobs
restaurant, as half of all Americans have worked in
the restaurant industry at some point in their lives.
Searching for a job this
While the summer months provide a boost in em-
summer? Look no fur-
ployment, restaurants are also a major source for
ther than your neigh-
job creation year round. In 2012 alone, industry job
borhood restaurant
growth will outpace overall job growth for the 13th
(ARA) Summer is the
straight year and reach nearly 13 million individu-
busiest season of the
als, almost 10 percent of the U.S. workforce. And
year for restaurants,
with summer job opportunities at a record high, the
with hungry consumers
industry shows no signs of slowing down, making
looking to beat the cook-
the restaurant industry a great place for a rewarding
ing heat opting to dine
employment opportunity this summer.
out instead.