The true minimum wage is $0.00

I just saw these statistics on Wikipedia:

In 2013, McDonald’s had 35,429 locations, a net income of $5,586 million and 440,000 employees.

In 2019, it had 38,695 locations (more locations!), a net income of $6025 million (more profit!), and 205,000 employees (less than half as many employees!).

Thanks to automation, that McDonalds spent heavily on, and contracting out some tasks it requires less than half as many people and jobs to operate a McDonalds restaurant.

It’s inflation, not social action, that will usher in the $15/hour wage, but far fewer people will be receiving it.

About On the North River

Forty years toiled in the Tel-com industry, married for 36 years widowed at sixty-one. New girlfriend at sixty-five. Was a Tea Party supporter. Today a follower of the Last American President to be honestly elected, Donald J. Trump.
This entry was posted in 2021, Economy. Bookmark the permalink.

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