There are a lot of reports out there that the recent jobs numbers (up 244,000) was largely the result of the recent McDonald's hiring spree. Not so.
In fact, none of the recent McHires were included in the April jobs report. The report refers to the pay period that ended on the 12th April. "National hiring day" at McDonald's wasn't until the following Tuesday, April 19.
The jobs number was not as positive as it looked, but that's because, as I reported earlier,of the 175,000 addition via the Birth/Death index.
McDonald's had no impact on the number.
And don't forget that you have to working on payroll for at least a week in some states before they take you off of unemployment benefits and then there is a bureaucratic delay in reporting up to date figures.
ReplyDeleteRecently you ran an article about how the minimum wage increased unemployment. How's unemployment in Bangladesh? Do they have a minimum wage?
ReplyDeleteIf they have a minimum wage, provided it is at a level sufficient enough to surpass what employers would pay for worker productivity, then yes, it has generated unemployment. If it's too low to do so, it has no influence anyway as it's merely a legal construct.
ReplyDeleteLet's see a list of nations with no minimum wage and a list of their unemployment rates and another list of nations with minimum wage and their unemployment rate. I'm betting the nations with minimum wage have lower unemployment, but that's just a guess.
ReplyDeleteGet 'er done.