How US fast food chains can raise wages without raising prices ...Middle East

Quartz - Economy
How US fast food chains can raise wages without raising prices
source : Quartz ( Middle East ) () 17
It turns out offering people more money gets them to apply for jobs. Wage increases at fast food chains like McDonald’s and Chipotle have largely solved their labor shortages, according to the companies’ latest earnings calls.The staffing challenges in the US are “getting better,” said Chris Kempczinski, McDonald’s CEO, on a conference call with analysts and investors July 28. “I don’t want to declare by any means that it’s easy, but we’re certainly seeing some improvement. We’re seeing applications have increased pretty significantly.”In May, the chain said it was raising hourly wages for its US company-owned restaurants by 10% over the next several months, where entry-level workers will ma

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