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Monday, August 24, 2015

WSJ Article on Chipotle Hiring Plans

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.
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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%.

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