Friday, February 7, 2014

Restaurant Employment Prosperity (Musical Tribute)

The following chart shows annual food services and drinking places employment growth.

Click to enlarge.

3.7% annual growth! Very impressive. Each time we get a recession (the deeper the recession the better), we get more growth. More recessions for the win! Genius!

We just need to stay in that strong, resilient, predictable, and consistent trend channel long-term, preferably near the top. The long-term trend is so obvious that I don't even feel the need to add a trend line. Did I mention how stable and sustainable the channel is? Just look at it! A few more years of this and it will be almost impossible to leave the channel no matter what happens. Who doesn't love certainty?

The annual data in the first chart doesn't include 2014 yet, but I can give you a glimpse of how the year is starting off using monthly data.

Click to enlarge.

There are a whopping 10.5 million people employed in this rapidly growing industry. Growth appears to have peaked back in July. As of January, the growth is still above 3% though and there's nothing but biscuits and gravy on the horizon! Can't you see it? And with average hourly earnings of production and nonsupervisory workers in this industry coming in at $10.96 (December 2013), what's not to like?

In honor of the charts, I suggest we all try to work Chipotle into our conversations (more than we already do). Start the day off right. When we wake up each morning we should exclaim, "What a great day to Chipotle!" Or alternatively, "The future's so bright I gotta Chipotle!"

January 30, 2014
Traffic jump boosts Chipotle restaurant sales, stock soars

(Reuters) - Chipotle Mexican Grill Inc (CMG.N) said on Thursday an increase in customer visits contributed to bigger-than-expected growth in quarterly sales at established restaurants, and its shares rose nearly 13 percent in extended trading.

People braved the extreme weather to eat burritos? It's a frickin' polar vortex miracle!

See Also:
Sarcasm Disclaimer

Source Data:
St. Louis Fed: Custom Chart #1
St. Louis Fed: Custom Chart #2


Rob Dawg said...

The casinos now have a big screen display with a buxom virtual dealer playing blackjack. No money, no chips, no cards. No personell.

Stagflationary Mark said...

Rob Dawg,

What will they think up next? A robot that gambles for you as you sleep? Perhaps you tell it the most you are willing to lose and it tries to stay under the limit?

It's got advanced AI. It may override your request if it is feeling especially lucky. Just like a real person might! Hahaha! Sigh.

Fatboy said...

"It's a frickin' polar vortex miracle!"

Shouldn't that be, "freakin' polar vortex miracle!"?

TJandTheBear said...


Rob Dawg said...

Kinda hard to bust on the 1% while staying in a double suite in the Trump. Three bathrooms! Lost count of the televisions including the ones built behind the bathroom mirrors for watching while in the jacuzzi tubs.

Stagflationary Mark said...


Beast Mode...Stop Freakin...Call Beacon! ;0

Stagflationary Mark said...


It is interesting. I don't think it will hold up going forward though, not unless we can convince banks to lend more money relative to deposits anyway. See my next post (up shortly).

Stagflationary Mark said...

Rob Dawg,

Lost count of the televisions...

It's probably a deterrent.

If Rain Man spends all his time counting TVs then he can't exactly count cards at the blackjack tables now can he? :)