Business and economic information you need to know
Oct 29, 2009 10:14 pm US/Eastern
Locals Still Cautious Despite Upswing In Economy
DAVIE (CBS4) ―
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Charles Simonin is opening up Mr. Laffs, a music and entertainment themed restaurant in Davie that promises to have affordable prices.
CBS
Economists say the great recession is over but it may be awhile before we
can say, "Happy days are here again," in South Florida.
"We're beginning to feel the upswing," says economist Dr. Albert Williams of Nova Southeastern University. "The key factor is consumer confidence. People have to feel it's okay to spend, and we're not there just yet."
People still feel gloomy because the unemployment rate continues to hover around ten percent. Dr. Williams says it could be another year before we see improvement in that area.
CBS4 News spoke to job seekers at Work Force One. Sharon Aldred was laid off from her human resources job over a year ago.
"I send out 15 to 20 resumes a day," she says.
Also on the job hunt is Rosie Rassiawarn, who lost her information technology position last year.
"The pressure is so great. You go to a job interview and think, why did I say that? Trying to stay focused, it's hard."
But some are betting on this economy. Brothers Charles and David Simonin have recently decided to open an entertainment themed restaurant in Davie. Mr. Laffs is located on the corner of University and Griffin. The brothers who have worked in the entertainment business say it's interactive dining that will appeal to families. They plan to offer a reasonably priced menu under $15 with dancing and live entertainment.
They're using a name that may be familiar to folks in the area. Mr. Laffs was a staple in Davie 20 years ago.
"The place before was 20 to 30 dollars a meal, the higher end. People want a reasonable price," says Charles Simonin.
The brothers are banking their concept will bring customers through the door so they'll not only feel the recession is over, they'll see it as well.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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