FinTech Silicon Valley Jobs

Winter is coming, and millions may lose their jobs in restaurants and hospitality

There’s the absence of additional stimulus funding that could help aid the purchase of cold-weather equipment or keep staff on payroll, as well as a resurgent pandemic that’s prompting lawmakers across the nation to institute new restrictions. Vermont, for instance, has ordered its bars to close to in-person service through December 15, and California has instituted a 10 p.m. curfew in some hard-hit counties. Los Angeles County this weekend went a step further, deciding to shut down all dining at restaurants, breweries and bars for at least three weeks beginning on Wednesday as COVID-19 cases spike.

Those actions have prompted warnings from economists and industry groups that the restaurant and hospitality industry could face a bleak winter.

“Tens of thousands of additional restaurant bankruptcies – and millions of lost jobs – are now more likely” due to new state restrictions, according to a Nov. 17 letter from the National Restaurant Association to the National Governors Association.

Between 1.4 million to 2.8 million jobs that have been recovered since April could be lost from the impact of winter weather, with many of the losses projected to hit restaurants, retail and other hospitality businesses, Gusto found in its analysis. Its economist, Luke Pardue, told USA TODAY he now believes the potential job losses have “moved more towards the 2.8 million number.”

He adds, “The 1.4 million estimate was based on the arrival of cold weather and no aid for retail shops, bars, and restaurants to keep operating. The significant spike in cases and new restrictions – with still no aid in sight – will likely cause a much broader pullback in economic activity.” Read more via MSN

Pemo Theodore

Pemo is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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