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Signs on door of a Graeter's ice cream parlor in the Hyde Park neighborhood of Cincinnati during government-mandated closings. The COVID-19 pandemic impacted the United States restaurant industry via government closures, resulting in layoffs of workers and loss of income for restaurants and owners and threatening the survival of independent restaurants as a category.
According to the National Restaurant Association a growing trend among US consumers for the foodservice industry is global cuisine with 66% of US consumers eating more widely in 2015 than in 2010, 80% of consumers eating 'ethnic' cuisines at least once a month, and 29% trying a new 'ethnic' cuisine within the last year. [3] [4]
In the time since the Card–Krueger study was released, many economists have tried to look at the effects of minimum wage increases on employment prospects. A 2006 review by Neumark and Wascher of over 100 studies on the minimum wage concluded that the general consensus view agreed that wage increases hurt employment opportunities for youths. [20]
In Delaware and Massachusetts, one in ten workers is employed in the restaurant industry. [6] [7] In North Carolina, 11% of workers are employed by the industry. [8] In Texas, 12% of workers were employed by the industry as of 2016. [9] The effect of the 2020 coronavirus epidemic was in March 2020 projected to be $225 billion in losses. [10]
The NCBA created a task force to fund research into the reduction of E. coli O157:H7 in cattle and in slaughterhouses. [5] Jack in the Box completely overhauled and restructured their corporate operations around food safety priorities, setting new standards across the fast food industry. [35]
Industrial dynamics is the study of the means and processes through which industries change over time, through their own processes of evolution – as first analyzed by Joseph Schumpeter. It is the complementary study to that of an industry’s comparative statics, which still dominates economic analysis.
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A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies. For example, the restaurant industry can be divided into several strategic groups including fast-food and fine-dining based on variables such as preparation time, pricing ...