2020 won’t be remembered as a good year by anyone. Millions of people have gotten infected, millions of families have lost loved ones, and hundreds of millions were laid off from their jobs. Certain industries have got it worse than others. Today, we’re going to take a look at the restaurant and hospitality industry and see how it managed to do in these tough times.
If you’re looking for a short answer, we feel bad for having to be the bearers of bad news, but the restaurant and hospitality industry isn’t doing all that good. At the moment, more than 7.5 million workers have lost their jobs because of the coronavirus pandemic. What’s worse, in 2021, things are seemingly going to be even worse for the employees.
According to the Bureau of Labor Statistics, hotels and restaurants have been forced to lay off 38% of their employees in the past 9 months. A good percentage of the ones left have been forced to work only a couple of hours a week. In the first couple of months of 2021, experts predict that the industry will be forced to leave 50% of its workers looking for new jobs.
Since the pandemic still hasn’t shown any big signs of slowing down – despite several vaccines being developed simultaneously – we can’t expect things to get better. Currently, 90% of restaurants aren’t operating at a full capacity, and a vast majority of restaurant owners feel that it can take up to 12 months for them to start working normally.
This is nothing. There’s a lot more to know about the state of the restaurant and hospitality industry. If you’re curious about it take a look at the kitchenall.com infographic down below.
