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McDonald's Created Half of All New US Jobs in May

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June 04, 2011 – Comments (10) | RELATED TICKERS: MCD , MS

[I've seen this story pop up a few times today but I haven't seen it here yet.]

Morgan Stanley calls it the “McDonald’s Effect,” according to MarketWatch’s Washington Bureau Chief Steve Goldstein — an estimate that as many of the 30,000 of the 54,000 jobs added in May were the result of a hiring binge by the hamburger chain, according to The Weekly Standard.

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10 Comments – Post Your Own

#1) On June 04, 2011 at 12:36 PM, motleyanimal (97.36) wrote:

You want fries with that recovery?

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#2) On June 04, 2011 at 1:38 PM, abitare (99.38) wrote:

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#3) On June 04, 2011 at 1:42 PM, abitare (99.38) wrote:

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#4) On June 04, 2011 at 1:48 PM, abitare (99.38) wrote:

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#5) On June 04, 2011 at 1:48 PM, abitare (99.38) wrote:

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#6) On June 04, 2011 at 6:51 PM, Teacherman1 (47.99) wrote:

I was wondering if I was the only one who thought about that when the "jobs" figures came out.

Now if we could just get the other companies to follow their example.

I know they don't pay great, but a job is good for self esteem and you can always keep looking.

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#7) On June 05, 2011 at 12:03 AM, Seano67 (55.52) wrote:

Yep, Teacherman. A job at Mickey D's certainly ain't glamorous nor does it pay much, but it definitely beats having no job at all. It's crazy though. I remember when jobs at fast food joints were for teenyboppers and very young adults, unless you were in management.

Heck, my first job was working at Wendy's 30 years ago when I was 14 years old, and that was a great gig for me. It was fun, because everyone I worked with (sans management) was around my age or slightly older high school students, we got free food, we got paid, and it was awesome for a young kid like me. But anymore I am seeing more and more people in the middle (and upper) portions of their lives working these jobs in fast foods, and this is when they should be in the prime of their working careers. It's sad really. We've become such a service oriented economy that people are just often forced to take whatever they can get, be that McDonald's or Burger King or whatever.

I really feel badly for the grandparent aged set working for low wages in fast food or WalMart or what have you, but that is what this country has become somehow. I took a roadtrip last summer and stopped at this travel plaza somewhere in Indiana to grab a burger at like 3 AM, and the lady working there had to be in her mid-60's, and her and I got to talking because we were about the only people in the whole place, and I asked her what she was doing working there at that hour and at her age, and she just told me her story. Her husband had had a stroke and been laid-off from GE, they'd lost the bulk of their retirement savings in the crash of '08, and so she entered the work-force at that late age and cleaned houses during the days and worked McDonald's at night. Necessity forced it, but it just struck me how sweet a lady she was and how she didn't have a word of complaint over how difficult her life had become. She just accepted it as being what had to be done, and the only regret she had was that she was no longer able to see her young grandkids nearly so much as she had before she entered the workforce, and that honestly made me feel like crying hearing that. I really felt for her, even if she didn't feel for herself. She was at an age where she should be winding down her life, relaxing, taking it easy and playing with the grandkids, but this is where we're at right now. The new America, and it really ain't so great in a lot of ways. 

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#8) On June 05, 2011 at 1:00 AM, Frankydontfailme (27.34) wrote:

Great comment Seano

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#9) On June 05, 2011 at 1:19 AM, ChrisGraley (31.45) wrote:

Does this mean that we are McScrewed?

 

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#10) On June 05, 2011 at 3:34 AM, stef333 (< 20) wrote:

Sure it is great that people get a job, even if it doesn't pay much, good for self esteem, not good to hang around the house unemployed, etc., etc.

I suggest you make a note of that for when you lose the good job you have now, it'll cheer you up while you have to work 2 - 3 part time jobs 60 - 90 hours/week just to make half of what you make now.

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