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

[Marenco]

McDonald’s Corp. (MCD), 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.

http://www.bloomberg.com/news/2011-04-28/mcdonald-s-hires-62-000-during-national-event-24-more-than-planned.html

[MikeStanart]

Crappy / Cheap food will always be popular in times of economic hardships. Looks like MCD's is making sure they have plenty of ground-troops to feed the hungry masses over-processed crap.

[Kludge]

Actually, most companies have been posting great earnings this quarter, way above estimates. Chrysler paid off billions of their gov't loans, Merck showed big gains, Ford showed highest profits in 13 years, Viacom's revenues soared 20%, and unemployment has continued to fall since Christmas 2010 (less "last week" apparently), to recall a few news-makers from memory.

[cindy25]

there was a time when McDonald's was so desperate for employees they actually placed applications in with your drive thru order

[Brian4Liberty]

there was a time when McDonald's was so desperate for employees they actually placed applications in with your drive thru order

Yeah, all this means is that people are desperate. McDonald's employee's usually last less than a week. They can hire 52x what they need. That might keep them in people for a year.

[TheBlackPeterSchiff]

Evil capitalists.

[angelatc]

there was a time when McDonald's was so desperate for employees they actually placed applications in with your drive thru order

Yes, and they offered signing bonuses too. That was right before the Mexicans started arriving en masse. God forbid wages be allowed to rise.

[anaconda]

I think this is evidence of the growing disparity in incomes in the U.S. I believe it is significant that these 65,000+ new jobs are of these type, rather than 65,000 new science & engineering jobs.

[madengr]

Don't you mean manufacturing? I thought the labor dept reclassified hamburger flipping as manufacturing.

[Anti Federalist]

Don't you mean manufacturing? I thought the labor dept reclassified hamburger flipping as manufacturing.

That, and also reboxing things like Chinese made shoes for resale.

Yay! McJobs for all.

Happy days are here again.

[Indy Vidual]

Crappy / Cheap food will always be popular in times of economic hardships. Looks like MCD's is making sure they have plenty of ground-troops to feed the hungry masses over-processed crap.

Sorry to say, some of it actually tastes pretty good. Perhaps it's time for me to be able to afford higher quality options.

[Vessol]

Actually, most companies have been posting great earnings this quarter, way above estimates. Chrysler paid off billions of their gov't loans, Merck showed big gains, Ford showed highest profits in 13 years, Viacom's revenues soared 20%, and unemployment has continued to fall since Christmas 2010 (less "last week" apparently), to recall a few news-makers from memory.

Of course when you throw money at things it's going to show some results. And even if they do pay off all their government loans, does that mean that the problems that got them in the ditch to begin with is fixed.

Are the problems that caused this bust fixed? I'm highly doubtful, the government will just create another boom/bubble market that will burst.

However, in the long run, I'd say that the current rate of observation inflation, which is around 10% when you judge consumer goods(such as food) is very significant. I think the cycle of boom and bust is about to have its final bust.

Onto the McEmployment crap. I informed one of my unemployed friends about this, he's always bitching about not having a job. He told me that McDonalds was "underneath" him. This is coming from a teenager who has no work experience and dropped out of High School.


Sorry to say, some of it actually tastes pretty good. Perhaps it's time for me to be able to afford higher quality options.

Their salads certainly are good. I have not eaten a burger from anyplace in like 3 months though.

[Indy Vidual]

...
Their salads certainly are good. I have not eaten a burger from anyplace in like 3 months though.
Careful Blood Vessol :p, if you eat all the dressing and croutons, then some of the salads have more fat and calories than a McGreaseBurger.

[Vessol]

Careful Blood Vessol :p, if you eat all the dressing and croutons, then some of the salads have more fat and calories than a McGreaseBurger.

I always get the chicken one with bacon, then I pour my own dressing on it(I usually choose from a good variety of vinaigrettes, ranch and other "saucy" dressings are nasty nasty) im just lazy and don't like having to prepare all that when I want a salad.

But then again, I'm also like 5'10 an 140 lbs, so my weight is not really the first thing I worry about when eating :P.

[HOLLYWOOD]

Actually, most companies have been posting great earnings this quarter, way above estimates. Chrysler paid off billions of their gov't loans, Merck showed big gains, Ford showed highest profits in 13 years, Viacom's revenues soared 20%, and unemployment has continued to fall since Christmas 2010 (less "last week" apparently), to recall a few news-makers from memory.
Damn TAX CREDITS/Subsidies/Writeoffs. 2009 the average corporate paid tax rate equaled 10.9%

For the "BIG 3" ... well they were given $50 Billion to bail them out... BUT, the BIG 3 were also given $45 Billion in Tax Credits/Subsidies. 3 Corporations sucked $95 Billion from the tax dollar nipple. A no lose in the fasco-corporatist government run charades...

General Electric: 2002-2009 domestic revenue $639 Billion total taxes paid: $165 Billion in net income, yet paid $5 Billion or about a 3.17% effective tax rate. Notice all those GE commercials?

JP Morgan Chase Manahattan Bear Stearns WaMu... The taxpayers eat a major portion of the WaMu debt... JPM is given $132 Billion in WaMu Deposits making TBTF even bigger, plus millions of new customers and billions in capital... also JPM is borrowing from the FED at about 0% effective rate.

The people are thrown crumbs and they bicker and fight over those crumbs, while the prostitutes inside the DC beltway continue steal from the people.

Next time you hear the federal corporate tax rate is too high... say yes, maybe on small businesses, but not the conglomerates that Capital Hill sleeps with daily.

[Humanae Libertas]

This must be the new economy or recovery that Obama was talking about -- yay for minimum wage jobs!