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Today's weekly wrap dives into the trends and stats for the current labor situation brewing in foodservice with a dramatic impact on restaurants based on new consumer data analysis from Foodable Labs.

Tweetable Data Points

Foodable Labs Data:

-229K restaurants permanently closed during COVID19
-Over 1.3MM jobs lost
-62% of millennials that were in the industry have gone outside the foodservice sector for work
-Tech challenged restaurants to make up over half of the landscape in 2022
-Fastest growing sector - fast-casual up 13.4% new openings in 2021
-120+ new concepts in fast-casual in 2021
-35% of consumers are choosing to eat out less due to rising prices - the largest demographic is millennials

I also breakdown the Doordash global expansion and what this could mean to the restaurant business. Along with the evolution of ghost kitchens being launched by Inspire brands, a little late to the party but definitely, one to keep your eyes on for growth in multi-concept ghost kitchens.

Wrapping up with my latest insights on the Panera Bread IPO and why this could be a very good thing for Panera in a time where the market is looking for a big leader on the technology front.