Restaurants gained 186,000 jobs in May, but the industry still has a long road toward reaching pre-pandemic figures. Last month, 10.83 million were on the payroll, and that’s 1.46 million fewer than February 2020, when the industry boasted 12.29 million, according to the Bureau of Labor Statistics. It also doesn’t help that quick-service and full-service brands are experiencing a large-scale labor crunch. Numerous brands such as Applebee’s, Firehouse Subs, Jimmy John’s, IHOP, Red Robin, Chipotle, and McDonald’s have announced intentions to hire thousands of workers. Brands are scrambling to hire in order to meet soaring demand and sales. Restaurants posted positive two-year comps for the 10th straight week through the week ending May 23, Black Box Intelligence reported. A resurgence is unquestionably occurring, but its sustainability comes into question considering staffing shortages, which result in reduced hours or even temporary closures. Black Box’s research shows that growth has decelerated in recent weeks compared to the period between mid-March and April, and the industry is still far off from garnering positive traffic growth. There’s certainly room for a comeback. Restaurants and bars have lost more than $280 billion in sales because of COVID, according to the U.S. Census Bureau, and the National Restaurant Association reported that roughly 90,000 locations have closed. As if that weren’t enough, the price of beef (14.5 percent), pork (9.6 percent), fresh fruits and melons (9.3 percent), processed poultry (5.4 percent), and dairy products (3.2 percent) all increased from March to April, according to the Bureau of Labor Statistics. Also, data from reservation platform OpenTable shows dining restrictions still exist in more than half of the states. “People who depend on restaurants and bars for their livelihood continue to be disproportionately impacted by this pandemic and need help,” said Erika Polmar, executive director of the Independent Restaurant Coalition, in a statement. “After 15 months of lost revenue, restaurants and bars are barely hanging on by a thread. They are struggling with rising prices, consumer hesitancy, and a pile of debt that will soon come due.” The $28.6 billion Restaurant Revitalization Fund set out to solve these lingering issues and build a strong bridge to a more enjoyable post-COVID environment. But the money appears to have already run out. More than 372,000 restaurants, bars, and other businesses applied, requesting a combined total of more than $76 billion. The bleaker reality is that restaurants and bars are eligible for at least $168 billion, the Independent Restaurant Coalition said. “To prevent these small businesses from closing permanently, and an employment crisis that will disproportionately affect young people, people of color, immigrants, the formerly incarcerated and single mothers, Congress must refill the Restaurant Revitalization Fund,” said Polmar. Overall, the U.S. economy added 559,000 jobs in May, and the unemployment rate declined 0.3 percentage points to 5.8 percent. There were about 9.3 million unemployed workers in May, but that could change drastically in the coming months. Half of the states are ending the enhanced $300 weekly unemployment benefit that’s scheduled to expire in September. States are ending the benefits as early as June 12 and as late as July 19. Additionally, the Department of Labor is pushing states to reinforce “work search” requirements for those unemployed workers. – Source: FSR Magazine.
- Who We Are
Our Mission:
"…to be the highest quality provider of human capital to our clients.”
- What We Do
Human Captial Management Solutions That Work
Being Better often requires assistance from others who can help get your there.
- Employers
Welcome Job Seekers
Our #JobSquad has assembled everything Job Seekers need, to beBetter.
- Job Seekers
Welcome Employers
Our #JobSquad has assembled everything Employers need, to beBetter.
- Blog
Ways for you to beBetter
Tips, tools and perspectives for job seekers, employers as well as general information on ways to beBetter.
- Connect
Get Connected:
Connect easily with our Corporate Office or with any of our Franchise locations.Corporate Office, Coral Springs, FL
(954) 493-9200 info@ariteam.com
Atlanta, GA
(770) 433-2220 iphillip@ariteam.com
Chicago, IL
(312) 780-7510 cwilson@ariteam.com
Dallas - Ft. Worth
(469) 922-2048 jsosa@ariteam.com
(469) 922-2096 eroshan@ariteam.com
Davie, FL
(954) 990-4545 frankc@ariteam.com
Manchester, NH
(603) 825-5520 van@ariteam.com
Simpsonville, SC
(864) 900-2144 matt@ariteam.com
(864) 900-2144 grace@ariteam.com
- Search Jobs
Featured Jobs
- Outside Sales Representative - Kalamazoo, MI - Wholesale Plumbing Supply DistributionOutside Sales Representative - Kalamazoo,...
- Director of Surgical Services
- Vice President of Sales--SmallwaresVice President of Sales - Smallwares REMOTE, Ideally West Coast Job...
- Outside Sales Representative - Kalamazoo, MI - Wholesale Plumbing Supply Distribution
Leave a Reply
You must be logged in to post a comment.