Clearly, restaurants and bars have their work cut out for them if they wish to capture their share of the scarce entertainment dollars in the market right now. When the main criteria for where to go becomes "whatever is nearby and cheap," that is bad news for those in the industry.
Making it even more difficult for restaurant and bar owners, people are traveling less as well for the entertainment. 40% of respondents indicated that they mainly stick close to home now, or combine entertainment such as dining at a restaurant close to a movie theater.
Even teenagers, normally prolific entertainment spenders, are feeling the pinch. Parents are reducing allowances, which in turn has caused teens to reevaluate their financial priorities. "My parents are definitely a lot stricter on how much cash they give me," lamented John Demet, 17, "I should probably look into getting a job soon if I ever want to have a girlfriend."
That may be easier said than done. The unemployment rate in Atlanta hit 10.1% in December, up from 7.6% in December 2008. In the entertainment industry, this has lead to a vicious cycle. Fewer consumers have jobs, and those that do are more fearful for their economic future than before. In...
Entertainment Industry Report a: Entertainment Industry Structure and Relationships. The entertainment industry in general is a complicated and often violent beast. It crushes most of the hopes and dreams it cultivates. For the handful of successful industry employees today, thousands, or even millions, have shattered dreams. At the same time, the structure of the industry is such that often even those with some success do not always achieve this long-term. This is
This economic indicator can be used to determine inequality within a given region or area. It can also be view the capacity for individuals within a particular nation to consume b. Rate of Value- $41,560 c. Source of Information- "Per Capita Personal Income U.S. And All States." Per Capita Personal Income U.S. And All States. Bureau of Business & Economic Research, 12 Oct. 12. Web. 02 Feb. 2013. d. Date of information-
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This is a pattern that is relatively consistent over a long time period (Clayton & Spletzer, 2006). The only difference in 2005 was that unemployment claims did not rise in the fourth quarter with the drop in jobs, as they had done in the past. It is difficult to draw definitive conclusions as to where these employees went in the fourth quarter of 2005. To do so would be filled
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