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 Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

Stay Updated FinTech Silicon Valley Jobs

Follow us on Twitter