Yesterday, McDonald's made a big announcement: on April 19 they will hire 50,000 people. The obvious significance of the announcement is in the numbers. According to CNNMoney.com and MarketWatch, here are some numbers to consider:
“the 50,000 new hires will increase the U.S. workforce to 700,000 from its current level of 650,000”
According to Jan Fields, president of McDonald's “the average pay for the jobs is $8.30 an hour… restaurant managers can make $50,000 a year”
“McDonald’s and its franchisees will spend more than $518 million more in wages and salaries in the coming year”
“And the 50,000 new workers will generate almost $1.4 billion in annual spending”
Clearly, McDonald's wants to be seen as the company doing its part to help the economy. Whether to actually help the economy or gain an endearing image, the company is willing to pay the cost to give 50,000 people a job. As far as the average hourly wage of $8.30, last week it was reported in order for anyone to make enough to support a “decent” lifestyle, a single person would have to make $30,000/ year or about $14/ hour. So, the questions many will have to face on April 19: is a low paying job better than no job? Considering your background, is McDonalds worth placing on a resume or work history? For many, the answers will to be yes. For many, especially long-term unemployed, they will have no choice. This hiring event is good news for those long-term unemployed looking for income while moving on to a better job or planning to move up in McDonald's. Of course, the other good aspect is McDonald's has added good points to their business karma.
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