Early outlooks are seeing a steady rise in consumer spending and stabilizing of job loss, with job growth nationwide and across sectors being at a slow 1.1%. The restaurant industry is growing over double this rate, so projections are strong that it will continue to grow and return to its pre-recession employment numbers by the end of the year. This is great news for anyone who is skilled in the restaurant industry, as well as a benefit for managers and owners who are looking for a broad and competitive candidate pool of qualified applicants who are ready and anxious to work.
The National Restaurant Association’s 2012 Restaurant Industry Forecast maintained a glowing outlook for the upcoming year for restaurants and for job growth in the restaurant industry. As the economy is getting back on its feet, consumers are dining out more and the demand is there. However, despite expected gains in sales and employee numbers, there will certainly be challenges facing the industry as we move forward into 2012 and its still-uncertain economic outcome among other sectors.
The greatest challenge noted by the Association’s forecast was the cost of food and beverages purchases and the rising prices of wholesale goods. The cost of oil and transportation are continuing to rise, causing strain on restaurants that rely heavily on foods that are shipped in or imported from other countries.
Even though consumers are dining out more, they are still pinching pennies to budget during the recession (or what’s left of it). Pricing is an even greater concern than ever before if a restaurant intends to fill its tables each evening. Selling points are quality fare that is healthy, fresh, and locally grown – at reasonable prices that are comfortable for a variety of budgets.
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