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Restaurants Are the New Factories
Donald Trump’s ideal economy is defined by brawn. He praises steelworkers, speaks wistfully of coal mining, and tweets boastfully about new manufacturing factories. But 200 days into his presidency, the most promising sector of the U.S. labor market isn’t steel-plating. It’s dinner-plating.
Restaurant jobs are on fire in 2017, growing faster than health care, construction, or manufacturing. The Bureau of Labor Statistics calls this subsector “food services and drinking places,” and the jobs are mostly at sit-down restaurants, which make up 50 percent of the category. Fast-food joints are the next-largest employer in the category, with 37 percent. Bars—wonderful, plentiful, but leanly staffed—account for just 3 percent. So, I’m just going to keep saying “restaurants” for short.
In some metros, restaurants are powering the entire economy. More than a third of Cleveland’s new jobs since 2015 are in restaurants, according to EMSI data. The same is true for New Orleans, but since 2010.
Unlike mining or manufacturing, which tends to cluster in a handful of regions, the restaurant boom is spread across the country. New fine-dining restaurants, which tend to require more waitstaff, are blooming in all the predictable places—San Francisco, Nashville, and Austin (the Texas capital leads the country in percent-growth of restaurant jobs). But restaurants are dominating local economies in a diverse range of places, from poor metros like Little Rock, to rich places like Washington, D.C., and military hubs like Virginia Beach. Read more….