Danger ahead. Construction spending slumps in September. Residential work projects drop. Mega bank stocks down on Friday… & keep going lower.

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Major Restaurant Chains Hike Prices — Worker Shortages

As the American labor market remains tight, major restaurant chains identify staffing challenges as a threat to their businesses. The United States economy currently has 2.8 million more available jobs than workers willing to take them — a reality that permits workers to be choosy with the positions that they accept.

As CNBC summarized, the chief executives of major restaurant chains noted the state of the labor market in recent earnings calls: Restaurant executives have painted a bleak picture of staffing challenges to investors on their earnings calls in the last two weeks. CEOs like Domino’s Pizza’s Ritch Allison, Chipotle Mexican Grill’s Brian Niccol and McDonald’s Chris Kempczinski shared details on how eateries have shortened hours, restricted ordering methods and lost out on …

Supply Chain: Brands To Cut Ad Spending

As businesses struggle to meet demand amid economy-wide supply chain bottlenecks, many are cutting their advertising budgets. Shipping vessels from abroad are currently idling outside the Los Angeles and Long Beach ports — which handle 40% of all shipping traffic entering the United States — as they wait to enter and unload.

The bottlenecks — caused by COVID-19 lockdowns in Asia and labor shortages in the United States — are leading to shortages in consumer goods. Many firms are therefore slashing their advertising spend as they struggle to fulfill existing orders.

Based on recent earnings calls, The Wall Street Journal explained: Chocolate giant Hershey Co. and household-goods manufacturers Kimberly-Clark Corp. and Church & Dwight Co. in recent days said they cut back on ad and marketing spending in the third …

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