ECONOMICS

By Peter Romeo of Restaurant Business Online

Full-service restaurants in Washington, D.C., have cut 3,700 jobs – about 12% of their workforce – since the jurisdiction began rolling back its tip credit in May 2023, according to data newly released by the U.S. Bureau of Labor Statistics.

The federal agency did not draw a correlation between the drop in jobs and the reduction in the credit, which fell in May and then again in July of last year. Restaurants there have also been (more…)

State Farm will not renew approximately 72,000 property and commercial apartment policies, of which approximately 30,000 will be for 'homeowner, rental, rental, residential community and business owner insurance,' and the remainder of which are for commercial apartment policies, the Sacramento Bee reports.

Last May the company announced that it would stop accepting applications for property and business properties due to higher construction costs, growing risks from (more…)

Argentina's libertarian president Javier Milei, perhaps best known for his shotgun approach to government jobs…

… plans to fire 70,000 government workers in the coming months, in what Bloomberg called "one of the clearest signs yet of how the libertarian’s chainsaw-style approach intends to slash the swollen state."

Beyond the job cuts, Milei also boasted at an event on Tuesday that he has frozen public works, cut off some funding to provincial governments and (more…)