Charles Payne

"I'd like to move into management, and maybe even own a franchise."
-Leika Reynolds

McDonald's Corporation announced in 2011 that it would hire 50,000 people across the country, which unleashed a stampede of desperate jobseekers. That "Hiring Day" event showed people who were hopeful and who had been unemployed for years, or who were out of school, but still not in the labor market, that waited in line for hours for an interview for a chance at being hired. No one in those lines complained about a higher minimum wage, or insisted that their salary be adjusted based on the number of children in their household.

1,000,000 Applicants
938,000 Rejected
62,000 Hired

Fast forward, three years later... we have been told that those hired on that day, and since, are being exploited and mistreated, and deserve a 106% pay raise. The same people that are in the business of dependency and dashed dreams are portraying those same people as victims of greedy capitalism.

There are many people raising families on fast food salaries, however, many of them live in households with numerous income earners. Moreover, many of the people are like Leika Reynolds; the 11th grader from Atlanta, who saw working at McDonald's as a steppingstone. She was not allowing her minimum wage job to define her, but instead she foresees a future of stepping up the economic ladder. She is a smart young lady, and her goals are not far-fetched.

In fact, that same day in Richmond, Virginia, McDonald's franchisee Sue Durlak, watched over the wave of job applicants at her 10 restaurants. Sue had a special interest, because the wave of applicants brought back memories of her filling out her application to work at McDonalds back in 1982. Working back then as a middle- school health teacher in Illinois, Sue was looking for a part-time gig to supplement her income, and she ended up with a lot more.

Fast Food Forward

The Human Development Index (HDI) measures quality of life through a variety of factors. The index was developed in Pakistan, to give a more concise evaluation of how well people truly live, taking into account things beyond basic wealth:

  • Life expectancy
  • Literacy
  • Education
  • Standard of living
  • Well-being
  • Child welfare

Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.
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