The coronavirus pandemic has had an absolutely devastating impact on the restaurant industry. Dining establishments are expected to lose $240 billion this year as dining rooms shut their doors. In addition to the money lost, restaurants have lost more jobs than any other industry, with over 6 million employees out of work.
According to a new report from the Bureau of Labor Statistics, 5.5 million jobs were lost at food services and drinking places in April 2020, a 46% decline from the previous month. Overall, the leisure and hospitality sector — which also includes the accommodations industry and arts, entertainment and recreation industry — experienced a loss of 7.7 million jobs in April. This brings the number of people employed in this industry to the lowest number since August 1988.
Other industries impacted the most by the coronavirus include education and health services (2.5 million jobs lost), professional and business services (2.1 million jobs lost) and retail trade (2.1 million jobs lost).
There’s no denying that the coronavirus has affected all of our lives. If you’ve been laid off in the last two months, here’s everything you need to know about COVID-19 and unemployment.