Economic Trends

As inflation continues to reach highs it hasn’t hit in over 40 years – the Consumer Price Index (CPI) is at 8.5% annualized – the outlook for ending the labor shortage anytime soon doesn’t look any better. The unemployment rate dropped to 3.6% at the end of March, while net restaurant employment rose by 61,000…

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More Economic Trends

The economy added significantly more jobs in the month of February than most economists had predicted – a total of 678,000 new jobs, while the unemployment rate dropped close to levels not seen since the pandemic struck two years ago almost to the day. The unemployment rate came in at an impressive 3.9%, however that’s…

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Economic Trends

The labor shortage continues to wreak havoc with many small businesses across the country notwithstanding the addition of some 23,000 in the leisure and hospitality industry last month with restaurants and bars accounting for nearly half that job growth, according to new data from the Bureau of Labor Statistics. Furthermore, average hourly earnings rose 4.8…

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Economic Trends

According to new employment data released last week by the Bureau of Labor Statistics (BLS), the leisure and hospitality industry boosted economy-wide employment gains by adding 74,000 jobs in the month of September. Specifically, food service and drinking places gained 29,000 new staff, helping to drop the sector unemployment rate by 1.4 points to 7.7…

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Economic News

According to new data released by the Bureau of Labor Statistics (BLS), food and drinking establishments continue to be a leading job creator during the recovery from coronavirus pandemic downturns with the broader hospitality industry sector adding 343,000 jobs in the month of June. Of that amount, the restaurant sector accounted for 194,300 of those…

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Miscellaneous

Despite political and Congressional efforts to strengthen organized labor (as evidenced by the above-referenced PRO Act), union membership remained flat in 2019 over the prior year. According to the Bureau of Labor Statistics (BLS), total union membership in both the private and public sectors dropped another 0.2 percent last year with membership stagnant at 10.3…

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Miscellaneous

Important to note, in the context of wages and worker benefits, the US Bureau of Labor Statistics reported that real average hourly earnings for all employee increased 0.5% from November to December. The increase stems from a combination of 0.4 percent increase in average hourly earnings coupled with a 0.1% decrease in the CPI. Real…

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O, My Miscellaneous!

We want to wish the best of luck to the Leyton Orient Football Club of the English Football League and their new owner, Nigel Travis! The Chairman and CEO of Dunkin’ Brands, a self-proclaimed “lifelong” O’s fan, Travis headed up a consortium that just bought the soccer club from Italian businessman Francesco Becchetti. Travis has…

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