Restaurant recession fears 'overblown'

Restaurant recession fears 'overblown'

Labor market strength suggests restaurant industry not in recession.

Preliminary figures released Aug. 5 by the Bureau of Labor Statistics showed that the economy added a net 255,000 jobs on a seasonally adjusted basis in July, which also came on the heels of a robust gain of 292,000 jobs in June.

National Restaurant Assn. chief economist Bruce Grind said the two-month print of 547,000 jobs was the strongest since the last two months of 2015 and was well above the average gains of 151,000 jobs during the first five months of the year.

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