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Food Service Jobs Forecast for 2024. IFMA predicts that the real growth of the foodservice industry will remain modest as the economy continues to recover from pandemic levels. However, positives include pent up consumer demand and new revenue sources such as subscription plans, loyalty programmes and meal bundles. CBO projects that the rate of job growth will become steadier through 2024; however, most occupations with projected decreases have an entry-level education requirement below bachelor's degrees.
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With consumers having more discretionary income in their pockets, more of it can be spent on experiences like dining out. This has proven beneficial to restaurant operators.
A low unemployment rate is a major factor in restaurant growth. This has left some segments, especially casual-dining restaurants, with high job vacancies; but overall IFMA predicts real foodservice industry growth will remain flat this year and next.
Restaurants continue to face challenges with labor costs, especially given the difficulty of hiring qualified employees in the first half 2023. Thankfully, though, falling commodity input prices are helping ease some of these pressures.
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Over three-fourths (74%) of restaurant operators say that business conditions are returning to normal or have already returned. Brands must provide better experiences than they did during the COVID-19 Pandemic, or they risk losing consumer loyalty. For example, they should greet guests upon entering and give clear instructions on pickup/delivery. Restaurants will also need to continue investing in technology, such as point-of-sale systems and restaurant automation.
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Hotels and motels will experience limited employment growth due to labor market tension. This stems from high turnover rates and an insufficient pool of qualified candidates willing to accept current wage levels in this industry. The demand is slowly returning. Room rates will increase over the next few years as operators try to recover revenue lost from the coronavirus outbreak.
Hotel managers should hire employees with strong employee morale and strong customer service skills. Furthermore, hotels are offering special deals and packages in order to attract new customers and boost overall hotel revenue, but these promotions may have negative repercussions for employee morale and satisfaction. To successfully hire new workers in hospitality work environments, they need to have a background in customer service.
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Although hotel demand is slowly recovering, many hotels are still facing staffing challenges due to unionized workers negotiating higher wages and benefits. Pension contributions also increase. Furthermore, traditional hotel rooms face competition from short-term rental sites that often offer more cost-effective accommodations.
The job prospects of hotel and motel clerks will improve slightly as the economy recovers. As more hotels implement online reservation systems and travel agents gain expertise using automated https://question-ksa.com/user/morganvnjn travel planning tools, desk clerks will become less necessary. Individuals with an undergraduate degree as well as strong computer skills will likely enjoy greater employment prospects within this sector.
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Food processing is the use of techniques and equipment to transform raw materials, such as meats, grains, fruits and vegetables, dairy, and other crops into marketable products that are long-lasting and safe for human consumption. It also helps to maintain a consistent food supply while reducing waste. Food processing encompasses an expansive industry - from expert removal of toxic portions from fugu fish through grinding grain into flour or even turning corn into fuel ethanol production.
Food-related jobs make up the bulk of available jobs in this major sector, and their projected rate of growth should outpace other occupations. Food sales and service careers are projected to experience particularly fast expansion; followed by food preparation/serving workers. Other food processing activities include pasteurising/freezing food products while adding vitamins or minerals for an optimal result.
The demand for processed foods is driven by a number of factors, including convenience, cost, and additives like preservatives, which could have adverse health effects. Also, consumers prefer fresh food over processed options.
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The slow economic expansion in 2024 will result in a decline in job creation as real output growth continues to be weak. Leisure and hospitality (such as restaurants), transportation, financial activities manufacturing construction are projected to experience gains while education healthcare government social assistance are projected to experience declines; according to one forecasting analysis this would result in an average monthly loss of 330,000 jobs over the coming year compared with the 2.8 million new positions created between 2021-2022 by employers.
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Overall restaurant sales are expected to hit $997 billion by 2023 thanks to higher menu prices and rising pent-up demand. In-home food inflation may be outpacing the industry, resulting in consumers having less disposable income for meals out.
Operators continue to invest in technology to increase productivity and reduce labor costs to support their expansion. They also seek ways to attract millennials and broaden their business model - for example, suspending self-serve beverages at one chain and creating an exclusive prototype to go at another. Register today to secure your spot at the Outperform 2023 event, which will be held in Denver on May 22-24.
