The New US Economy?

[dales]

McDonald's Hires 62,000 in U.S. Event, 24% More Than Planned

Thursday, April 28, 2011

(Updates share price in the sixth paragraph.)

April 28 (Bloomberg) -- McDonald's Corp., 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.

--Editors: Niamh Ring, Stephen West

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Does one need anymore proof that these are desperate times for many?

[oldr_n_wsr]

Does one need anymore proof that these are desperate times for many?dales

Certainly not me.

[Gob]

Nope I don't think we do.

Will McDeath start putting downward wage pressure on employees due to the glut of available workers do you think?

Are McD paid up MOTU members?

[oldr_n_wsr]

Nope I don't think we do.

Will McDeath start putting downward wage pressure on employees due to the glut of available workers do you think?

Are McD paid up MOTU members?

I think they are one of the founding fathers.

[quaddriver]

A big Mac in every pot.

[dgs49]

The remarkable thing is that they were able to be quite selective.

McDonald's provides a good job for thousands and thousands of people. Furthermore, it provides an opportunity to advance based on your own willingness to work hard and well. Many, many McDonald's restaurant managers (and corporate executives) started at the bottom and worked their way up to very well-paying careers.

I know many people who think they are "too good" to work for McDonald's when quite the opposite is true. Not good enough.

I worked a lot of jobs worse than Mickey Dee's in my life.

[dales]

Try living on a minimum wage job.

Unfortunately, many now have no choice.

Sure, McDonalds can be selective with so many people out of work.

Hello?