Economic Trends

You know about the ever-increasing inflation rate of 9.1% for June 2022 over one year ago (highest since November 1981), so we won’t dwell on that. And against that backdrop, new data from the U.S. Bureau of Labor Statistics released this week indicates that of the 372,000 jobs added in June, the restaurant and bars accounted…

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Economic Trends

Consumer spending ticked up by 0.2 percent in May, the slowest monthly increase of the year, but American are largely financing their purchases with excess savings built up during the pandemic according to new government data from the Bureau of Economic Advisors. Adjusted for inflation however, spending was down 0.4% from April. Personal consumption expenditures,…

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Economic Trends

The Employment Policies Institute (EPI) recently released a new report revealing that a majority of economists across the country are against raising the federal minimum wage to $15 an hour. The report surveyed some 160 economists with a full 75 percent believing that the change would have a negative effect on youth employment levels while…

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Economic Trends

It seems like a mixed bag looking at some of the March surveys on consumer confidence and sentiment. A Conference Board survey of consumer confidence released earlier this week showed a slight rebound in March – the first increase on the year – even as many remain skeptical. However, some experts report that the improvement…

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Economic Trends

A host of interesting restaurant statistics came to light just over a week ago at the United States Department of Agriculture Outlook Forum, where NRA Senior VP Hudson Riehle presented some enlightening data on consumer trends over the course of the pandemic. Drive-thru sales accounted for 42% of traffic in November 2021 up from 26%…

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Economic Trends

Although the January jobs report, which some analysts project will be bleak, will not be released until later this morning, there are still ominous signs elsewhere for the U.S. economy. As the omicron variant of COVID began to surge in December, some 4.3 million workers quit their jobs with the highest percentage of those quitting…

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Economic Trends

The fall months brought a trifecta of bad news from an economic standpoint as the number of Americans who quit their jobs in September rose to 3% – the highest rate ever recorded since the Bureau of Labor Statistics (BLS) began collecting that data two decades ago. The September numbers translate to 4.4 million people,…

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Economic Trends

As referenced above, BLS data now shows many industry-average wages exceeding the $15 per hour mark. Additionally, as we approach the September expiration of the unemployment premium benefit that is keeping many from returning to work, further data from the Bureau of Labor Statistics released a week ago shows there were 10.1 million job openings…

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Consumer and Economic Trends

According to the monthly Survey of Consumers conducted by the University of Michigan, consumer sentiment fell by 4.3 points in July compared to June numbers. Unease about the economy was concentrated on inflation as consumers face higher prices, notably on homes, vehicles, and household durable goods. A separate poll, conducted by the Job Creators Network…

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In The News

This week’s episode of Restaurant Business Podcast, A Deeper Dive, hosted by Restaurant Business Editor-in-Chief Jonathan Maze featured DDIFO restaurant analyst John Gordon of Pacific Management Consulting Group speaking to the question of “Why are there so many big franchise disputes right now?” and addressing specifically current disputes within the McDonald’s, Subway and 7-Eleven systems.…

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