National Restaurant Association: Key Takeaways on Pandemic’s Economic Impact (Infographic)

New research from the National Restaurant Association illustrates the extensive damage to restaurant businesses since the pandemic began. It found that the restaurant industry, which experienced the most significant sales and job losses of any industry in the country in the first quarter of 2020, expects to lose $240 billion by the year-end.The operator survey drew more than 3,800 responses.  Among the top takeaways.

More than eight million restaurant employees were unemployed at the height of the pandemic. 76 percent of restaurants that remained open in some capacity have rehired some staff. 25 percent of restaurants that are temporarily closed have rehired some staff and plan to reopen. 84 percent said they received a loan through the Paycheck Protection Program … BUT ... 78 percent said the funding would not be enough to keep all their employees on the payroll until sales are enough to cover labor costs in the weeks or months ahead. 75 percent  said it’s unlikely their…