Julie
Jargon's article, Chipotle Makes a New Kind of Play for Labor, appears
on the front page of section B - Business and Tech, August 24, 2015.
She reports on a
planned mass hiring day - September 9th. Chipotle plans to hire 4,000
people on the single day increasing their workforce by nearly 7%.
The
article features a graph of wage growth for limited-service restaurants vs.
the entire private sector. The source is Bureau of Labor Statistics.
LSR workers have seen wage growth of 6.77%
in the 2.5 year period ended this June vs. 5.37% for the entire private
sector.
.
I checked on the Restaurant
Investor Report for closing rates in the first half of 2015 for fast
casual Mexican/Latin restaurants. The closing rate was far below other sectors.
Chipotle's
closings are a mere 1/8 of 1% (.00125). Almost all Chipotle locations remained in business during the six month report period.
Independents and regional chains
operating casual dining Mexican/Latin concept closed 4.83%. The entire Mexican/Latin fast casual chains group saw a closing rate of 1.46%. Mexican/Latin fast casual independents closed 4.36%.
INFORMATION
Phone: (413) 727-8897 email: foodcostwiz@gmail.com
No comments:
Post a Comment