Final answer:
While tourism is a significant industry, the claim that leisure is the third largest retailer and second largest employer may not fully align with other industry statistics. Leisure is a valued part of the economy and includes various recreational activities, contributing notably to GDP, but specific rankings cannot be confirmed without more precise data.
Step-by-step explanation:
The statement in the question posits that leisure is a major industry, on par with retail and employment in the United States. Based on the information provided, it is evident that tourism is a significant industry, potentially the world's largest, with a high employment rate and substantial revenue generation. However, the figures for retail suggest that retail is larger in terms of dollar value at $524 billion compared to other industries. Consequently, the claim that leisure is a $400 billion industry annually seems plausible but that it is the nation's third largest retailer might not align with the provided retail statistics. Moreover, the leisure industry may not necessarily be the second largest employer compared to the health industry, as the leisure industry is part of the broader service sector which includes a wide variety of services.
Considering that almost 80 percent of the workforce is employed in the tertiary sector, which includes leisure, and that leisure is highly valued by people trading off work time for leisure activities, we can deduce that leisure is indeed a significant part of the economy. Yet, without more specific data, we cannot confirm the exact rankings in retail size and employment relative to other industries. The labor supply decision that includes leisure suggests its importance, so the statement's claim about leisure being a highly valued “good” is supported.
The recreational industry, which can be grouped under leisure, includes televisions, cable television, pets and pet products, sports equipment, and admissions, showing the diversity and economic contribution of leisure activities. These segments are indeed substantial, with the landscapes of food consumption and recreation representing hundreds of billions in industry and employing many individuals.