Fast-Food Workers Protest Poverty McWages

<a href="http://www.flickr.com/photos/rogueanthro/8569842435/">Kara Newhouse</a>/Flickr


For McDonald’s shareholders, the past five years can be aptly summed up by the slogan “I’m lovin’ it.” According to Yahoo Finance, shares of the global fast-food giant are up 80 percent since April 2008—more than four times the gain of the S&P 500 over the same period. The company is robustly profitable—its profit margin hovers near 20 percent, and it’s got $2.3 billion in cash on the books.

Other fast-food giants are doing well by their shareholders, too. Burger King shares are up 25 percent over the past year, while YUM! Brands—the holding company for Taco Bell, KFC, and Pizza Hut—are up 10 percent. (Over the same period, the S&P 500 is up just 5 percent.)

For these companies’ employees, it’s been a much rougher road. The steep recession and glacial recovery have kept unemployment at high levels, meaning fewer opportunities to switch jobs and little leverage in wage negotiations. Even in ultra-expensive New York City—which has by far the nation’s highest cost of living—many McDonalds, Burger King, and Yum! workers draw the federal minimum wage, $7.25. The federal minimum wage translates to about $15,000 per year. This, in a city where the average rent for a two-bedroom apartment tops $3,000.

That’s why it’s so heartening that in New York City, workers from big-name  fast-food chains are walking off the job and taking to the streets to demand better wages. Here’s the New York Times:

Thursday’s strike, sponsored by a labor-community coalition that calls itself Fast Food Forward, seeks to press the city’s fast-food restaurants to pay their employees $15 an hour. Many workers say they can barely get by on the $7.25, $8 or $9 an hour that many receive; $9 an hour translates to around $18,000 a year for a full-time worker. The current minimum wage in New York State is $7.25, though lawmakers agreed last month to raise it to $9 by 2016.        

For an excellent discussion of the situation, including interviews with workers having to support families on fast-food wages—check out this segment from Chris Hayes’ new MSNBC show:

Visit NBCNews.com for breaking news, world news, and news about the economy

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2019 demands.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.