Remember the next time you see a restaurant closed someday it would normally be open, or when you see a sign when you walk in asking you to be patient as they are understaffed.
And now, with Covid on the rise again, these restaurants will be an early warning signal for whether consumers are reluctant to venture out again, especially now that colder weather has put an end to al fresco dining that has helped overcome some of this lingering mistrust.
“The leisure and hospitality industry is likely to feel the effect of not only the increased positivity rate, but also the increase in hospital admissions,” Golebiewski said.
The good news is that other parts of the economy are less susceptible to the ebb and flow of Covid now that vaccines are available.
Jobs in the manufacturing sector are almost 3% higher than before the pandemic, even with the difficulties of hiring. Construction jobs increased nearly 6% from 2019 levels, reaching a record high for the third consecutive month.
“Manufacturing and construction both seem to be going back to – and beyond – where they were before,” Glass said.
This is encouraging, as these sectors tend to pay better and offer more career-oriented jobs.
But if the wave of Covid begins to convince consumers that they had better stay at home, restaurants and places of entertainment will feel it first.