Nice to see the economy is recovering. Bloomberg today reports that McDonalds has hired 62,000 during last week's national employment event, out of more than 1 million applicants. This means that McDonalds has just turned down over 938,000 people, or 94% of applicants for a minimum wage, burger-flipping job. Good luck trying to pay the rent, fill the fridge, and have enough cash left over to purchase even a single ounce of silver on burger-flipping wages. Maybe this is why the US mint is now producing copper eagles. Is copper about to become the working American man's silver?
From Bloomberg:
McDonald’s Corp. (MCD), the world’s biggest restaurant chain, said it hired 24 percent more people than planned during an employment event this month.
McDonald’s and its franchisees hired 62,000 people in the U.S. after receiving more than one million applications, the Oak Brook, Illinois-based company said today in an e-mailed statement. Previously, it said it planned to hire 50,000.
The April 19 national hiring day was the company’s first, said Danya Proud, a McDonald’s spokeswoman. She declined to disclose how many of the jobs were full- versus part-time. McDonald’s employed 400,000 workers worldwide at company-owned stores at the end of 2010, according to a company filing.
The number of applications for unemployment benefits in the U.S. rose last week, a sign that progress in the labor market may be fading. Jobless claims increased by 25,000 to 429,000 in the week ended April 23, the most in three months, according to data from the Labor Department in Washington today.
Earlier this month, McDonald’s said sales at stores open at least 13 months climbed 2.9 percent in the U.S. after it attracted more diners with items such as beverages and the Chipotle BBQ Bacon Angus burger. The fast-food chain has about 14,000 stores in the U.S. and more than 18,000 abroad. About 80 percent of all McDonald’s stores are franchised.
McDonald’s rose 16 cents to $78.03 at 4:15 p.m. in New York Stock Exchange composite trading. The shares gained 11 percent over the past 12 months.
