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economy

Workforce

Restaurants added 286k jobs in February

Three out of every four jobs created last month were at a restaurant as stimulus payments and dining room reopenings put some life back into the industry.

Financing

This is the beginning of the end of the pandemic

With cases going down and vaccines ramping up, many believe that the end of the era of quarantines is near, says RB’s The Bottom Line.

The industry shed 19,400 jobs during the month even as sales improved, though the rate of employment decline is shrinking.

McDonald’s CEO Chris Kempczinski notes that economic concern will remain, especially after the stimulus rolls off, says RB’s The Bottom Line.

After a tough pandemic, the industry could face a strong decade as consumers return and companies build new locations.

The industry now employs 9.8 million people as restaurants shut services due to coronavirus restrictions.

The industry lost 17,400 jobs in November, the first decline since April.

But the industry remains more than 2 million jobs short of where it was before the pandemic.

The economy is headed in two directions, with some sectors recovering and others not. The same is true for restaurants, says RB’s The Bottom Line.

The RB podcast “A Deeper Dive” features economist Joel Naroff discussing what is necessary for the economy to fully recover, and how that will affect restaurant sales.

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