real-time news and commentary for investors
Friday, Oct 18
Low wages at fast-food chains in focus
- A major storm is brewing over the low wages paid to fast-food workers and the cost to U.S. taxpayers of the group's reliance on public safety nets as it lives off the sub-$10 per hour wages.
- The National Employment Law Project estimates it costs the public close to $7B to sustain the families of fast-food workers through initiatives such as food stamps, the Children's Health Insurance Program and the Earned Income Tax Credit.
- It's a cost that at some point the American public may demand be shared by the major players in the restaurant sector.
- Fast-food chains in focus: McDonald's (MCD), Burger King (BKW), Wendy's (WEN), Taco Bell (YUM), Dunkin' Donuts (DNKN), Subway.