On Economic Front: Inflation & Jobs Up

Consumer prices grew much faster than expected in October, according to data released this week by the U.S. Department of Labor (DOL). The consumer price index (CPI) rose 0.9 percent last month and was 6.2 percent higher that it was in October 2020, the largest annual increase in 30 years! Generally speaking, analysts were expecting…

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Miscellaneous

Rising labor costs (48%), employee turnover (44%) and insufficient training (39%) ran 1, 2 & 3 as barriers to improved restaurant operations according to a recent Zenput and Technomic survey. The survey of 295 restaurant operators also found 27% of operators are using technology “to a great extent” to automate aspects of their operation. Last…

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Miscellaneous

As we glided from one decade to another, the economy continued its exceptional run, adding another 145,000 jobs in December to cap 2019 at over 2,100,000 new jobs created! According to the Bureau of Labor Statistics, the leisure and hospitality industry added 40,000 of those jobs for an annual industry total of 388,000!  As the…

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Wages on the Rise

Pay levels for the average American worker have improved over the past year through June according to the Wall Street Journal.  The paper reported this week on the Employment-Cost Index, a regular report of the Department of Labor Bureau of Labor Statistics (BLS) that measures wages and salaries plus benefits. The Index for June 2018…

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Labor Market Getting Tighter

Our members often lament the difficulties they encounter in trying to hire and retain good workers in a tight labor market. Well, it seems the labor market is only getting tighter as Labor Department figures released last week showed unemployment claims for the week ended February 24 had decreased by 10,000 claims to 210,000. That…

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