Econintersect: McDonald’s has announced that it will hire up to 50,000 new workers this month, most of them in a single day nationwide effort on April 19. If this effort is successful McDonald’s U.S. workforce will increase to approximately 700,000 in 14,000 restaurants.
The new employees will range from part-time positions all the way up to senior management.From Seeking Alpha:
- McDonald’s and its franchisees will spend more than $518 million more in wages and salaries in the coming year, an average of more than $1.4 million every day.
- More than $41.5 million in training will be invested in the company’s new workforce instilling life-long business and customer service skills as well as setting employees up for success in current and future opportunities.
- The addition of 50,000 potential hires translates into $54 million more in payroll taxes contributed to the broader economy.
- Using a statistical multiplier effect, 50,000 new workers will generate almost $1.4 billion in annual spending more than $3.5 million per day.
GEI editor’s note: The wages and salaries of $518 million divided equally among 50,000 employees comes to an average per employee for the year of $10,360. If we assume an average hour wage of $8 an hour that means the average for each employee is 1,295 hours. At $9 an hour the average is 1,151 hours. Forty hours a week for 52 weeks is 2,080 hours. It seems that many, and probably most, of the new hires will be part-time.
Sources: MSNBC and Seeking Alpha
