Labor participation fell even as unemployment dropped back to ~4%. The significant repeated stimulus payments absolutely were the root cause and are a big part

Labor participation fell even as unemployment dropped back to ~4%. The significant repeated stimulus payments absolutely were the root cause and are a big part of why inflation is rocking 8%. Raw materials + labor + profit = end price. If raw materials go up, labor goes up and profit stays the same.. that would suggest prices will increase too. The fed has already stopped labeling inflation as transitory and it will continue likely through a good portion of this year too. I'm glad only 2 restaurants of the 50 near you have closed. About 30% of the restaurants near me have closed, most were small and locally owned. A few chain locations closed too. Most of the remaining ones significantly cut hours. They seem to still be bleeding.