Restaurant Jobs Are The New Factory Jobs
August 11, 2017 in Daily Bulletin
Derek Thompson looked at the remarkable rise of the restaurant workforce:
- In 2017 jobs in restaurants have grown faster than those in healthcare, construction or manufacturing.
- This growth has been distributed across the nation, and is accelerating.
- Americans used to spend 25% of their food budget on restaurants in the 1950s. Today they spend 50%.
- Manufacturers used to employ three times as many people as restaurants in 1990. On current trends this will reverse by 2020.
- The charge is led by fine dining establishments that typically have a high number of staff at hand.
- Bars on the other hand serve a lot of people but employ relatively few.
- It’s not clear how great this is for the economy. The average private job pays $22.50 an hour, but for restaurants the corresponding figure is just $12.50.
- And the restaurant market may already be too saturated. Several chains are struggling to compete against all the competition.
Read more on The Atlantic.
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