*Discussing the economic realities of significant wage increases, Tom Manzo said, “You can only raise prices so much. And you’re seeing it. People are not going to pay $20 for a Big Mac. It’s not going to happen.” *
This quote captures the tension between rising operational costs and consumer price sensitivity.
I’ve noticed in NJ that many fast-food chains almost exclusively rely on KIOSK for people to order from, and just pick up the food when ready.
I can’t believe people eat at fast food places anymore. I used to back in the 80s, 90s, and the first 10 years of the new century. But in the last 15 years I’ve been to McDonalds once, and Wendy’s once. I now buy most of my treats at the supermarket.
Wendy’s wasn’t terrible. A chicken sandwich, large fries, and a drink for 11 and change.
About 10 or so years ago a McDonalds. I don’t remember the price, just the awful quality of the food. Couldn’t eat it. I’ll never go again.
“It’s a starter industry,” Manzo said. “You get a job as a kid working in a fast food restaurant and you learn some good work ethic and that takes you into life.”
Businesses like Chipotle Mexican Grill Inc. and McDonald’s Corp. have already raised their prices in anticipation of the wage hike. But the impact is not just on prices but also on employment. Over 1,200 Pizza Hut drivers in California face layoffs, with companies opting for delivery services like DoorDash and Uber Eats instead. The new minimum wage law, signed by Gov. Gavin Newsom, is seen as both a boon and a bane.
These types of jobs were never viewed as the types of jobs one gets to support a family. Back in the day it was just teenage kids working there whereas as today it’s just as many adults, if not more, than teenagers
In addition, only around 1% of American adults actually work those minimum wage jobs. This is the ultimate virtue signal for progressives, and it doesn’t matter if they worsen the economy over it. People still have the freedom to change jobs, at least for now. We’re not under national single party rule - yet.
The economy is not looking real good,
but that is a far different statement from “America is over. It’s tougher than it used to be. It’s impossible to make a decent living anymore.”
LOL yeah 1 year would be quick, but I am sure people have done it.
I was thinking:
2-3 years after graduation kid gets a promotion.
Two kids with just one promotion each and they’re making $96k/year.
If folks don’t have a house like the above by age 30, it’s not because “America is over.” It’s because they partied until they were 30 and/or had multiple kids before they got married.
