Restaurant Industry: Unemployment and Economic Uncertainties

The general environment consists of six factors outside the industry to which they apply. Although demographic, political / legal factors, socio-cultural factors, economic factors, technical factors, and global factors all affect company opportunities and threats, they are rarely managed by the enterprise itself There is none. As a multinational company, Bloomin's brand will now develop a strategy based on demographics of the world's demographics. The emergence of the middle class has had a major impact on the development of the catering industry as a whole.

The global financial crisis had a major impact on the restaurant industry (see Appendix 9a). The rise in the unemployment rate has led to an increase in cash-poor people. Food inflation is the best ever (see Appendix 4), restaurants need to add extra value and come up with new innovative ideas to attract customers without spending too much money. According to a poll conducted by Caterersearch, 70% believe that VAT reduction in food and beverages will lead the industry (2009). The original purpose of coupons, discounts, and membership cards is to promote the development of the industry (see Appendix 9b). 61% of respondents stated that the cost of pressure reduction has an impact on service levels (Caterersearch, 2008)

There was significant change in economic activity in all industries. In recent years, most industries are booming, while the unemployment rate is declining, in other industries the industry's operating capacity is below the unemployment rate and the unemployment rate is also high. An important insight from Burns & Mitchell (1946) on business cycles is that many economic indicators work together. In the expansion phase, not only production volume but also employment will increase, and if expansion is active the inflation will also increase. On the contrary, during the economic recession of output, employment and inflation contracts, the reverse is true. Therefore, you can decide the business cycle according to the direction of the business cycle. The peak period of this cycle refers to the month before some important indicators went down, and the trough may refer to the last month the index began to rise.

Prior to the financial crisis, the labor market was consistent between the actual unemployment rate and the economic definition of the unemployment rate. However, the unemployment rate (lagging economic indicator) peaked after the Great Depression in the autumn of 2010 and the real interest rate reached 11%. The unemployment rate after the crisis peaked in 2010, so recent research showed an increase in drug abuse during the economic crisis. According to a recent survey by the National Economic Research Bureau, the opioid mortality per 100,000 people increased by 0.19 (3.6%) when the unemployment rate in the county increased by 1 percentage point, opioids increased 100,000 in all emergency departments I overdosed. Human visit rate increased by 0.95 (7.0%)