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labor costs

Financing

Restaurants’ finances turned south in a hurry

The Bottom Line: Margins were fine last fall as sales recovered. But high food costs on top of high labor costs have done them in. And some concepts are already feeling the pain.

Financing

The labor market continues to show signs of improvement

The Bottom Line: Operators continue to say they’re getting more applications and filling positions. But they should not lose the lessons of the past two years.

The quality of potential hires is more of an issue than the quantity, the report from the International Franchise Association shows.

Employers are also finding that more hours are needed because new hires aren't as efficient.

Sales at its huge high-end restaurants are still only a fraction of what they were pre-pandemic, while galloping costs shrink the bottom line.

The emergency requirement was technically downgraded into a proposed rule, meaning it still could be adopted, but only through the usual prolonged process.

As the omicron variant continues to spread, everyone from small independent restaurants to McDonald’s either cut hours or reduced their services.

The year’s biggest story was an unprecedented lack of workers that left operators closing services, reducing hours and dramatically increasing pay.

Burgerville, the regional quick-service chain, found out through more than three years of negotiation with the union representing the staffs of five units. Here’s the agreement that was finally approved.

The Bottom Line: The labor force participation rate remains stubbornly low. The continued pandemic is likely to keep it that way for a while.

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