Fast Food Wages Skyrocketed 10% Last Quarter

Sharing is Caring!
  • Wages for hourly limited-service restaurant workers climbed 10% in the second quarter compared with a year ago, according to a new report from industry tracker Black Box Intelligence and Snagajob.
  • Restaurants have turned to raising wages in response to difficulties finding enough willing workers to staff their businesses.
  • Turnover rates are also higher than pre-pandemic levels, according to the report, putting even more pressure on restaurants.

You’ve seen headlines for pay hikes at McDonald’s, Chipotle and other restaurants. Now it’s showing up in the data.

Wages for hourly limited-service restaurant workers climbed 10% in the second quarter compared with a year ago, according to a new report from industry tracker Black Box Intelligence and Snagajob.

It’s the largest quarterly jump in years. For comparison, hourly limited-service employees saw their wages rise just 4.1% in the first quarter compared with a year prior.

Many industries have been struggling to find enough willing workers as demand rebounds, but restaurants in particular have been hard pressed by labor challenges. The July unemployment rate was 8.4% for eating and drinking places, up from 5.9% two years ago, according to the Bureau of Labor Statistics. Black Box data showed that full-service restaurants are operating with 6.2 fewer employees in the kitchens and 2.8 fewer in the front of the house than in 2019.

www.cnbc.com/2021/08/23/fast-food-wages-climbed-10percent-in-latest-quarter-the-largest-jump-in-years-report-says.html

 

471 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.