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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Business Confidence

Notwithstanding ongoing challenges with the labor shortage and lingering COVID fears, small businesses are generally more optimistic about the future now than they were a year ago, although access to capital is keeping many awake nights. According to a national survey a few weeks ago of 2,140 small business owners by Goldman Sachs, 84% said…

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Consumer Confidence

The monthly report, Survey of Consumers, by the University of Michigan was recently released and it showed that final consumer sentiment readings in March climbed to 84.9—a more than eight-point jump since February and the highest level reached in a year. The gains are believed to be largely the result of another wave of direct…

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Where’s the Consumer’s At?

Keeping an eye on the sentiments of the consumer as some restrictions are lifted or rolled back across the country. Well first, just a slight majority are comfortable going out to dine at a restaurant. According to the latest data from Morning Consult, 51 percent of Americans feel safe going out to eat, up from…

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Business and Consumer Confidence

While the COVID vaccine becomes more available and more states relax some of their onerous restrictions on business operations, both business and consumer confidence continue to play on the metaphorical see-saw. A survey by the National Federation of Independent Business found the outlook of small business owners improving slightly with 15% of its respondents reporting…

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Consumer Trends

According to the latest Survey of Consumers produced by the University of Michigan, consumer sentiment for early February dropped by nearly three whole points to 76.2, the lowest reading since August of last year and down more than 20 points from February of 2020 – which was just before the coronavirus pandemic hit the U.S.…

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Miscellaneous

According to new data released by the Bureau of Labor Statistics earlier this month, the leisure and hospitality industry brought back 271,000 jobs in October – over 70 percent of which were at bars and restaurants. Furthermore, the unemployment rate for the hospitality sector of the economy dropped from 19 percent in September to 16.3…

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Economic Reports

State revenues have plummeted since the COVID-19 pandemic hit the country in mid-March to the tune of an estimated $31 billion in lost tax revenues thus far. Further, the analysis by the Urban Institute points to a 6.4 percent reduction in revenue through the month of August, with greater losses possible as coronavirus shutdowns continue…

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