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April Restaurants Sales Hit Lowest Point in 35 Years
According to the National Restaurant Association, consumer spending at eating and drinking establishments was at its lowest level since October 1984, when adjusted for inflation.
In the month of April, sales at eating and drinking establishments reached $32.4 billion, on a seasonally-adjusted basis according to data from the U.S. Census Bureau. In January, sales were more than double April’s mark at $65.4 billion.
April sales were the smallest in volume since March 2005, but when adjusting for inflation it was the lowest mark in 35 years...
Restaurant Employment Falls to Lowest Level Since 1989
The restaurant industry lost more than three decades of jobs in the last two months, according to National Restaurant Association analysis of preliminary data released by the Bureau of Labor Statistics. Eating and drinking places – which are the primary component of the total restaurant and foodservice industry – lost 5.5 million jobs in April, on a seasonally-adjusted basis, which follows a net decline of nearly a half-million jobs in March. This is nearly three times more jobs than any other industry.
"In February, there were more than 12 million people on the payrolls of eating and drinking places across this country, but today more than six million restaurant workers are...
National Restaurant Association: Restaurant Industry has Lost Two-Thirds of Workforce
From beloved corner diners, to favorite independent restaurants to well-known chains, the entire restaurant industry has lost two-thirds of its workforce, more than eight million employees, as a result of COVID-19 closures, according to a new national survey conducted by the National Restaurant Association and included in a new industry recovery plan sent to Congress today.
The Association called on Congress to enact a new "Blueprint for Recovery" to provide targeted relief for the second largest private sector employer, an industry that is larger than airlines, railroads, ground transportation and spectator sports combined, and that has in the past been one of the...
National Restaurant Association: More Relief Needed to Keep Restaurants Afloat
The National Restaurant Association told U.S. representatives that current COVID-19 relief funds will not be enough to keep many restaurants in business through the crisis. The Association noted increased warning signs that more relief may be necessary for foodservice operators and their employees.
The group noted that as of April 9, three million restaurant employees have lost their jobs and the coronavirus has cut $25 billion in revenue from the industry since March 1. Another critical point from the NRA said that 15 percent of restaurants...
National Restaurant Association Cancels Upcoming May Show
The National Restaurant Association Show, which was set to take place in Chicago from May 16-19, has been canceled.
“After many weeks of monitoring the evolving situation around COVID-19, including guidance from the CDC and the Governor of Illinois, it is with great regret that we announce the unavoidable cancellation of this year’s National Restaurant Association Show,” an update on the show website explained.
This is not the only food show to be canceled due to the coronavirus. Natural Products Expo West, which was set for...
National Restaurant Association Calls on Congress for Relief Amid Coronavirus Outbreak
The National Restaurant Association called on President Trump and congressional leaders to provide immediate relief in the wake of government-mandated operational changes. The large-scale closures and restrictions on gatherings have created an economic hardship that will ripple through every community in this country.
Early economic forecasts reveal the industry will sustain at least a $225 billion loss and be forced to eliminate between 5 to 7 million jobs over the next three-months; however, the White House and others are projecting a potentially longer period for reduced operations. In a letter to the Administration and Congress, the National Restaurant Association outlined several options that can provide...
National Restaurant Association Unveils its Restaurant Industry 2030 Report
Today the National Restaurant Association, in partnership with American Express and Nestlé Professional, released its 10-year outlook report on the projected state of the restaurant industry in 2030. The report, "Restaurant Industry 2030: Actionable Insights for the Future," examines the key indicators shaping the future of the industry, identifies the most and least likely developments over the upcoming decade, and considers possible disrupters outside the industry that could transform it. The findings are based on input from a variety of restaurant sector experts, futurists, and government statistics.
Key economic projections for 2030 include...
National Restaurant Association: Economic Outlook for 2nd Half of 2019 Remains Positive
Growth in the national economy slowed during the first half of 2019. Job growth averaged just 172,000 a month during the first six months of 2019, which was down from an average monthly gain of more than 223,000 jobs during 2018. In addition, consensus forecasts have U.S. gross domestic product (GDP) rising less than 2 percent during the second quarter, which would make the first half expansion the weakest two-quarter growth in more than a year.
To be sure, a slowing economy doesn’t mean a contracting economy...
Update: List of Current Plant Closures Due to COVID-19
The Trip Back to 'Normal' Slaughter Levels
Consumer Confidence Index Stabilizes in May
UB Consulting Presents: The Other Side of COVID-19
Has the Coronavirus Caused Consumers to Adopt New Eating Behaviors?
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