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Chipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out (finance.yahoo.com)

submitted 6 months ago by FlashMobOfOne@lemmy.world to c/usa@lemmy.ml

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Even fast-casual dining may be too much of a financial burden for younger generations.

Chipotle CEO Scott Boatwright said young diners between the ages of 25 and 35 are cutting back on dining at the Mexican-inspired fast-casual chain. But these millennial and Gen Z customers are not snubbing Chipotle for other fast food spots; they’ve stopped dining out as frequently altogether.

“This group is facing several headwinds, including unemployment, increased student loan repayment, and slower real wage growth,” Boatwright told investors at the company’s earnings presentation on Wednesday. “We’re not losing them to the competition. We’re losing them to grocery and food at home.”

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[–] cassandrafatigue@lemmy.dbzer0.com 13 points 6 months ago* (last edited 6 months ago) (1 children)

Important to remember: "the economy" is just "how we distribute labor and stuff".

We have a really dog shit nonsense economy that doesn't seem to do anything good. Based entirely on nonsense ideology and punishment.

People are hungry but solid gold pleasure yachts and Zionist child killing bombs must not be interrupted.

People are choking on fumes and can't afford to keep their lights on, but The Oil Must Flow and investors must be made whole. No woke shit like solar panels.

It's not being hyper-redundant for resilience, it's not building some mega-project, we aren't all toiling in the science mines for the benefit of all who come later. It's not for anybody but a few parasitic mentally ill privilege addicts.

So how long can this last? Months?

[–] reagansrottencorpse@lemmy.ml 1 points 6 months ago

It's fucking exhausting.