Originally Posted by
JBord
Another way of looking at it -- very few people see waiting or bussing tables as a long term job. The mass shutdowns were a catalyst for people to consider that next job a little sooner than they would have normally. The increased benefits allowed them a safety net to do it with no loss of income and, in some cases, even more income than returning to their jobs. The states that have started to cut off the benefits are already seeing increases in job applications and hiring (or at least were as of a few weeks ago, I haven't seen recent data).
This is my view also. The shutdowns have forced some viable businesses (restaurants) to permanently exit the market, and it is unsurprising we're seeing supply playing catch up here. It's going to be interesting to see what companies are saying their costs and pass-through to the end consumer--we'll definitely have more insight on this during this earnings season. I'm wondering if the rising labor costs are more because of inflationary pressures (transitory debate notwithstanding) rather than some other permanent behavioral change.
We'll see. Ultimately, the restaurants given their razor thin margins must necessarily pass-through to costs to diners in the form of higher prices. While I haven't noticed (admittedly, haven't really paid attention), have you guys/gals noticed that any broad increase in restaurant prices?