For most, yes. Those working there in high school, it is a great place to start and to begin to learn responsibility. Look at all of the leaders that can put McD's, some other fast food or other restaurant on their resume. Those working there later in life, it is a place where they can recover from financial disaster and if offers social stability. (Depending on the location) Those looking at long term employment growth it is extremely limited, I agree but the potential is there. There are very very very few people that look at McD's as an upward, ceiling-less career move but it can happen. If someone would have told me that I would be doing what I do now, 20 years ago, I would have tried to have them committed.
wow on the beginning of post. owning 8 mcdeez and properties around college towns? dats legit. definitely loving life now.
These 50,000 new minimum wage jobs will do nothing to turn around the economy, end of story... Average worker will come home with $250 a week, whats that going to do in this world of inflated prices, you cant even live in a one bedroom apartment for $250 a week!!!!!
I think you are missing the real big picture. All of what you talk about is PAST tense leading up to TODAY. The past 20 years we experienced the biggest credit bubble in history. As they say a rising tide lifts all boats. Much of what could be accomplished in so far as leveraging debt to acquire growth worked in those years as the company continued to grow and real estate prices were rising. Hence, taking on debt with extreme asset inflation made sense. At the same time, wage growth was literally nowhere to be found at the lowest end of the food chain. The one fly in the ointment over the past decade have been commodity prices, utilities, etc..which hit the restaurant business more than most businesses, BUT with a very large buyer they can be mitigated or substantially reduced. Present day McDonald's (as someone has alluded to in other thread) is not any sort of American Dream (for the minimum wage workers). Like the rest of this country, the employee's are no longer high school or college part time workers looking to get a start, they are largely immigrants with a mix of minorities. I can't speak specifically to each location across the country, but I would be surprised if even 15% of the total workforce is caucasian.
Quincy, IL, McD's starting wage - $11 per hour x 40 hours = $440.00 week 2 bedroom/2 bath apartment - $450.00 a month. Not great but a great place to start while going to college.
According to NPR tonight, they actually are going to hire 50,000 in one day to get PR benefits from it. I would guess that as a result, there will be many other days they will hire less people as a result, but at least they are actually adding staff to move more stores to 24 hr operations. In all honesty, for those who have no job at all, its a step up. Senior citizens can no longer earn interest on their savings, so many NEED to take jobs to replace the lost income. Many college kids are taking the jobs, too, they said. Its not a bad thing to work, IMO. Nobody deserves a free silver spoon ticket to the world, IMO.