Ruben's Empanada Opening Creating Hope and Good Food .3

Walking down the streets of New York City in early March can be stimulating. The snow banks are melting, and people are more leisurely with their time. This feeling carries over into the local restaurants as they keep their doors open, allowing for a crisp breeze or set tables outside enabling an outdoor lunch. One such venue is local restaurant, Ruben’s Empanadas. Ruben’s has just opened its seventh location, choosing the cozy 8th avenue strip in Chelsea to set up shop. 8th avenue boasts many local restaurants and the new addition is not unwelcome.

Among the business closings, and the numerous rent signs that pop up in New York City in a time of recession, it seems a rarity to see a business thriving. The recession started in December of 2007, says a report published by the National Bureau of Economic Research, and many businesses have not been able to ride out the recession. "The Bureau of Labor Statistics on Friday released the employment report for September, the 21st month of consecutive job loss, making this the longest streak in 70 years." says Economic Policy Institute member Heidi Shierholz. Though the recession has spanned several years, things are beginning to look up. “In my view--there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery.” Says Chairman Ben S. Bernanke in a testimony made at the Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing and Urban Affairs, U.S. Senate, in Washington, D.C. Though the recession may have ended, it will take time to heal.

Within this time, to see a restaurant opening among several vacant storefronts on a street is a subtle hint at an upturn. George Entio, manager of the new 8th avenue Ruben’s Empanadas says that within the last few years, business has slowed for them, but not stopped. “After September 11th, our downtown locations slowed down, the buildings were empty, companies moved, so we made the decision to expand uptown,” says Entio. As far as the restaurant business goes, Entio says, “restaurants are crazy, rent is insane, our plan was to open a new store every year, but the last three years we have slowed down.”

In a Report for Congress in an article titled, The Economic Effects of 9/11: A Retrospective Assessment, Gail Makinen, Coordinator Specialist in Economic Policy Government and Finance Division writes, “The loss of lives and property on 9/11 was not large enough to have had
a measurable effect on the productive capacity of the United States even though it had a very significant localized effect on New York City” Though the rest of the country may not be feeling the effects of September 11th, New York City is.

However difficult business is, it seems that New York restaurant owners are sticking it out. Ruben’s Empanadas is a bustling business. Numerous curious customers peaked their heads in for a look at the new delicacies the neighborhood has to offer. It seems as if New York City restaurant owners are going to be all right, observes James Brown, NYS Department of Labor, labor market analyst. “Leisure and hospitality have done quite well in this downturn.” He says, “tourism is a key factor, and in general, this sector has been strong.”


There seem to be increasing reasons to be a little more hopeful come spring. In a speech on March 8th at the National Association for Business Economics Policy Conference, Brian P. Sack, Executive Vice President of The Federal Reserve Bank of New York said, they are "preparing for a smooth exit from the extraordinary policy actions that were taken in response to the financial crisis." In a comprehensive look at State and Area Employment, Hours, and Earnings, the Industry of Full-Service Restaurants, by the Bureau of Labor Statistics Data, shows that there are 110,600 employees in the restaurant business as of February 2010. Michelle Walker, National Data Organizer for the Bureau of Labor Statistics, said, “For this series of stats, employment has gone up from January to February, which is positive.”

Etnio, whose branch of Ruben’s Empanadas opened in early February, says the Bistro has been, “busy from the beginning, we have a lot of customer’s who work in the downtown area, but live here”. He speaks to the need of a more cohesive blend of local businesses saying, “Lately, people are looking for something different, they don’t want another Starbucks or Bank, they want individual attention.” The boom of other local restaurants on the strip does not bother Etnio, stating that, "People know to come here to eat, there is no competition." This display of synergy on a local level only adds to the hope that New York City's economic status will soon pick itself up. George Etnio, manager of Ruben's 8th avenue branch remarked, "The change to these New York City neighborhoods is not good, they are much more commercial than they were eight years ago. People are looking for small businesses again, and that is what we will give them."