ABSTRACT

Further Support for Restaurants and Restaurant Workers is Needed   [open pdf - 299KB]

From the Document: "The COVID [coronavirus disease 2019] outbreak caused the fastest and one of the deepest economic collapses in modern U.S. history, but the pain has not been spread equally across the economy. The restaurant industry and its workers have been hit especially hard with 2.5 million jobs lost since February-- one in four of the 10 million jobs lost in the overall economy. If the economy as a whole had suffered the same level of job losses as the restaurant industry, that would translate into 30 million jobs lost instead of the 10 million it has lost since February. More than 110,000 restaurants--about one in six--have closed permanently or long term. The situation threatens to worsen as new U.S. COVID cases exceed 1.5 million each week. [...] Restaurants are especially vulnerable because they are more likely to be small businesses. Small businesses typically lack the cash reserves and access to credit that larger businesses have, which makes going over a year with only a fraction of normal revenue untenable for many. The collapse in restaurant employment disproportionately affects women and Latinos while immigrant restaurant owners are especially vulnerable. Many small, independently owned restaurants will not survive without further relief. Americans will eventually begin to eat out again, but the question is whether the restaurants they eat in will be owned by large chains or small-business owners. Additional support for independent restaurant owners and workers is necessary."

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Copyright:
Public Domain
Retrieved From:
U.S. Congress Joint Economic Committee: https://www.jec.senate.gov/
Format:
pdf
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application/pdf
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