The last time employees in the “Food Services and Drinking Places” category experienced a monthly job decline was February 2010. Since then, for 42 consecutive months, the US eating and drinking industry went on an epic hiring spree without a single month of net layoffs, adding over 1 million workers and hitting an all time high 10.334 million workers, even as actual restaurant retail sales have recently tumbled as a result of the middle-class US household once again running on fumes as a result of the Fed’s disastrous wealth-transferring policies. Well, as the chart below shows, after 42 months of relentless hiring of bartenders and waitresses, we may have just hit “peak bartenders.”
What this means for the future of the US workforce we don’t know, but whatever it is, it can’t be good for several million Los Angeles-based “actors.”
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/kGGuV0HlAE8/story01.htm Tyler Durden