Monday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
US beef supply at lowest level in 60+ years
Beef cattle inventories across the united states are at their lowest level in more than six decades, according to the U.S. Department of Agriculture.
Low inventory and rising demand will mean long-term price hikes for consumers.
Global financial firm BTIG predicts that consumer beef prices will rise by 15% during the year and will remain elevated in this cycle through 2025.
California winegrape growers harvest smallest crop in 10 years
In 2022, California winegrape growers harvested their smallest crop within the past decade, according to the California Department of Food and Agriculture.
Weather is one of the main reasons.
With demand for wine stagnating over the past couple of years, the smaller-than-average yields have kept inventory low and prices high.
Percentage of employed disabled people up by nearly 3%
The percentage of disabled people who were employed rose to 21.3% in 2022, according to data released Thursday by the U.S. Bureau of Labor Statistics.
That’s more than 2% percent higher than in 2021 and the most since 2008.
As companies adopted remote and hybrid work arrangements, more disabled people applied for and landed jobs — sometimes, for the first time in years.
More layoffs at Twitter
Twitter reportedly laid off another 50 workers over the weekend.
This is at least the fourth round of layoffs since Elon Musk assumed ownership of the social media platform last November.
The most recent layoffs came from Twitter’s Blue program and its burgeoning payments business.
Survey: Number of US restaurants drops 72,000 between 2019 and 2022
There were about 631,000 restaurants in the United States last year, according to restaurant research firm Technomic. That’s roughly 72,000 fewer than in 2019.
Technomic says that number could fall even further this year, to about 630,000 locations. The research firm says it doesn’t foresee the number of restaurants in the U.S. returning to pre-COVID levels even by 2026.