Job Growth in U.S. Restaurants and Bars Jumps in March

Image result for Average weekly earnings were up to $427.78 per week, as compared to $425.88 per week in February.

Restaurants and bars in the U.S. added 27,000 jobs in the past month, quieting rumblings of an economic slowdown following February’s unexpectedly low job growth numbers for both the industry and the U.S. economy overall. According to the latest economic report from the Bureau of Labor Statistics, March’s job growth numbers more closely align with what the industry had been reporting in previous months: 36,000 jobs added in January and 40,000 jobs added last December.

There were 196,000 total jobs added in March across all industries in the U.S., and the unemployment rate stayed at a steady, low rate of 3.8 percent or about 6.2 million people unemployed. Unemployment rates in leisure and hospitality remained slightly above the national rate, at 5.8 percent people unemployed in the industry.

Average hourly earnings in the leisure and hospitality sector remained essentially unchanged from the month prior, at $16.39 per hour. That’s up about 60 cents from March 2018’s average hourly earnings. Employees in the sector worked an average of 26.1 hours per week, the same hourly average that was reported in March 2018. Average weekly earnings were up to $427.78 per week, as compared to $425.88 per week in February.

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McDonalds Buys Dynamic Yield For $300 Million to Bring Big Data to Drive-Thru

Image result for McDonalds Buys Dynamic Yield For $300

“In a testament to the value of personalization, McDonald’s announced plans to acquire an Israel-based startup that uses data to serve up personalized offers to customers. According to people familiar with the matter, McDonald’s will acquire Dynamic Yield for upwards of $300 million.

The acquisition will inject technology into multiple areas of the traditional fast food restaurant, starting with a core feature: the drive-thru. McDonald’s tested the technology in a Miami location, where, according to Wired, the company’s algorithms took real-life factors like weather and traffic into account, suggesting appropriate menu items.

Thanks to new technology, restaurants collect plenty of data. But the practical application of that data is big business, and McDonald’s is seizing that opportunity with the Dynamic Yield buy.

“Upon closing of the acquisition, McDonald’s will begin to roll this technology out in the drive thru at restaurants in the United States in 2019 and then expand the use to other top international markets,” the company said in a statement on the news. “McDonald’s will also begin work to integrate the technology into all of its digital customer experience touchpoints, such as self-order kiosks and McDonald’s global mobile app.”

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Free webinar: Optimize Operations by Running a Data-Driven Restaurant

Free webinar: Optimize operations by running a data-driven restaurant

“(…) Now, on the afternoon of Thursday, March 7, Focus Brands Manager of Retail IT Systems Tyler Schack will join with Revel Systems Sales Engineering Manager Wajih Rahman to share how the two companies partnered to improve business at more than 1,200 brand locations that use Revel’s POS. The free hour-long webinar will give listeners a peek behind the curtain at how Focus uses data to drive profits.

Listeners will learn how Schack and others at the Focus brands first created a powerful framework for data collection and analysis and then put the findings to work to improve everything from overall on-the-job performance to more efficient operating practices, higher margins and a more impactful customer experience.”

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Rare Wine Auctions Show No Signs of Slowing

While Burgundy continues to reign at rare wine auctions, top Bordeauxs like Pétrus are seeing higher prices.

“In the third quarter of 2018, global sales of fine and rare wine at auction totaled $70.4 million, up a whopping 31 percent over 2017’s third-quarter total of $53.7 million. U.S. sales totaled $36.1 million, up 19.1 percent. Hong Kong sales rose 49 percent, to $26.3 million, and London sales increased by 40 percent to $8 million. As in the previous two quarters, pristine single-owner cellars and winery-direct consignments generated much of the heated bidding.”

“Acker Merrall & Condit’s first September sale, held in New York, brought in $7.2 million against a presale high estimate of $7.3 million. It was 96 percent sold. “Burgundy didn’t take a vacation this summer,” quipped Acker Merrall and Condit CEO John Kapon, in a statement. All 25 of his sale’s top lots hailed from the French region.”

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