Texas Roadhouse Suffolk – The Labor Department’s report in May should have been decisive: Millions of jobs were lost, while unemployment, already at its worst since the Great Depression, rose sharply.
But when the latest data was released at 8:30 a.m. Friday, traders, economists, political analysts and others who have been sitting at their computers all month waiting for news were shaken. Unemployment fell and employers started hiring again.
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There is a problem with the data that skews the numbers a bit. In addition, the unemployment rate for black Americans has risen. Economists have warned that if the labor market takes such a downturn – with 21 million unemployed – a full recovery could be years away.
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However, the news was a shock in a country suffering from the coronavirus, economic collapse and social unrest.
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About 2.5 million jobs were created last month, according to a government survey of employers. Labor Secretary Eugene Scalia said in a statement that the gains show “an earlier and stronger reopening of the economy than expected in May,” compared to a climate loss of more than $8 million.
The unemployment rate fell to 13.3% in May from 14.7% in April, with the number of unemployed falling by 2.1 million. The figures come from various household surveys.
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Entertainment and hospitality added 1.2 million jobs, with growth in restaurant and bar services offsetting ongoing losses in hotels. Construction workers increased by 464,000, making up nearly half of April’s loss.
The health care sector added 312,000 jobs, with dental offices seeing a big recovery, but job losses in nursing and nursing homes and hospitals continued. Private education employers added 33,000 workers last month, while retailers added 368,000.
“The jobs report is clear, people are returning to work earlier than anyone expected,” said Luke Tilley, chief economist at the Wilmington Trust. “However, we remain cautious. , because we do not expect the hiring rate to continue.”
Investors who have driven shares higher since late March saw the news as evidence of their bullishness.
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The Dow Jones Industrial Average rose 829 points, or 3.2%, to 27110.98. The index has risen 46% since its March low, reducing its year-to-date decline to 5%.
Temporary layoffs fell 2.7 million to 15.3 million in May after jumping 16.2 million in April. That, along with benefits from bars, restaurants and retail stores, suggests the Paycheck Protection Program has encouraged employers to hire more workers.
“A lot of that is probably driven by PPP,” said Shannon Saccocia, chief investment officer at Boston Private.
While the unemployment rate for whites fell to 12.4%, it rose to 16.8% for blacks. Hispanics dropped to 17.6 percent, but remained higher than other groups. Asians were slightly changed at 15%.
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The pandemic has made it difficult for the US Bureau of Labor Statistics and the Census Bureau to survey businesses and households with monthly employment reports.
With call centers closed and interviewers working remotely, the survey’s response rate was low — down nearly 15 percent from the household survey.
For the second month in a row, the BLS said some workers who should have been marked as unemployed and furloughed were instead counted as employees. It is estimated that if these workers were classified correctly, the unemployment rate would be about 3 percent higher, or more than 16 percent.
It’s hard to do research like this when small companies are closing and the classification is confusing, said Megan Green, a senior fellow at the Harvard Kennedy School. .Inconsistent information,” such as week-to-week claims of no value.
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The government calculates the unemployment rate in other ways, showing how painful the collapse of the labor market is.
In addition to the official unemployment rate of 13.3%, another 6% have given up looking for work, and another 3% are classified as employed but do not actually have a job, said Tom Cocan, a professor at MIT’s Sloan School of. Administration. .
States can speed up reopening to bring more people home, especially as federal aid ends this summer.
President Trump, who has pushed governors to immediately lift COVID-19 restrictions, said the economy is on its way back to a V-shape—a sharp decline after the growth spurt.
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“We talked about V. A V is big. It’s better than V. It’s a rocket ship,” the president said on Friday.
Before all the workers are back on their feet, there is a risk that Washington will become complacent and withdraw support, said Sarkosia of Boston Private.
“The assumption that may prove false is that stimulus and unemployment benefits are enough to isolate the lowest-paid workers,” he said.
Employers cut more than 22 million jobs in March and April, so last month’s gains were a bit of a reversal. Despite recent improvements, unemployment and layoffs remain at very depressed levels.
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“The important thing to remember is that the Northeast, especially New York, but also Boston, was hit harder than the rest of the country,” said Peter Ireland, an economics professor at Boston College. and you are slow.”
The Black News Hour, brought to the Boston Globe by Black reporters at the Boston Globe, is a new radio show that delivers honest news that connects with our community and expands the impact on our city’s most pressing issues. Texas Roadhouse restaurant and bar opens in Selden, marking the steakhouse’s third location on Long Island and second in Suffolk County. Its capacity will be halved due to the coronavirus.
Selden, NY – Texas Roadhouse is opening in Selden, and it’s bringing an array of grilled delicacies. The opening of this beef house at 289 Middle Country Road marks its third location on Long Island.
The Texas Roadhouse menu offers burgers, steaks, ribs, chicken, fish, and appetizers; including the so-called Cactus Blossom, the “golden onion of Texas,” served with Cajun horseradish dipping sauce.
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The new restaurant will follow social distancing guidelines and be at 50% capacity due to the coronavirus, reports Greater Jeff Harbor. Reservations are not accepted, and those interested may call 631-496-3073 one hour in advance to be placed on the waiting list. However, according to Greater Port Jeff, customers are encouraged to download the Texas Roadhouse app for updates. Takeaways can be ordered through the app.
The restaurant is open from three to ten. Monday through Thursday; one hour late on Friday; and 11:30 a.m. to 11 p.m. on weekends.
The place used to be the Ruby Tuesday restaurant. Texas Roadhouse’s two other Long Island locations are in East Meadow and Deer Park.
We can’t wait to bring Texas Roadhouse to Selden, NY. I’ll see this spring! Posted by Texas Roadhouse on Tuesday, February 25, 2020 Business Texas Roadhouse is expanding to SuffolkSteakhouse this month, creating a location in Deer Park, with a grand opening planned for October.
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East Meadow Steakhouse is expanding into Suffolk County, with plans to open a second Long Island restaurant later this year.
Company spokesman Travis Doster said it will break ground on the Deer Park location later this month.
A new restaurant will be nearby, and the current plan is for a grand opening in early October, he said.
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Each restaurant typically has 170 employees, with part-time workers making up 60 percent of the workforce and full-time workers making up the remaining 40 percent, Dost said. He hopes to start hiring a month or two before Deer Park opens.
The company’s history goes back nearly 20 years, when Texas Roadhouse opened its first location in Clarksville, Indiana, in 1993. Today, the company operates more than 370 stores in 47 countries, including one in the United Arab Emirates.
According to its website, the company serves hand-cut steaks, dishes made from scratch and freshly baked breads. As with most restaurant chains today, entertainment is part of the atmosphere, and Texas Roadhouse includes line dancers and a jukebox. Texas Roadhouse Steakhouse is taking over the former Ruby Tuesday at Selden Square Mall in Selden.
A company representative told GreaterPortJeff.com that the company plans to open the new location sometime in early spring.
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Kristina Wilson, managing partner of the new store, told local media that the restaurant is currently hiring and will have fewer than 200 employees. The company has two other locations on Long Island: East Meadow and
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