Thursday, April 4, 2013

Qualifications needed to work at McDonald's

Good morning economists. Today I would like to discuss the job market and how this is changing as a result of the current recession. With youth unemployment rising to almost 12%, entry level positions like a cashier at McDonald's are becoming more demanding with regards to who they consider qualified applicants. A franchise in the US recently posted this on its website:
They are asking for their new cashier to have a bachelors degree! Traditionally only upper level management positions at McDonald's required any type of college degree but as it seems this trend is now changing. This is because firms realize that within the pool of the unemployed, there are degree holders who are willing to work for a lower pay (even close to the minimum wage).

The problem however, lies with the untrained youth labor who do not possess any such qualifications. The labor market requires that either they get some kind of qualification (degree or diploma) or that they work for below minimum wage compensation.

In the end, can someone afford not to get a college degree?

Have a nice weekend!

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