3 Stocks That Will Survive the Restaurant Hiring Apocalypse
The next time you're driving around, you may notice all of the "Now Hiring" signs posted at area restaurants. It seems all the attention the hospitality industry was dedicating to make sure consumers would come back hungry as the economy reopened was diverted from pondering the employees needed to serve up the edibles.
Eateries are finding themselves short-staffed, and that's bad news for meal-seeking patrons now and shareholders later. Here in Florida, a McDonald's (NYSE: MCD) made waves for paying $50 just for showing up to a job interview. My nearest Burger King was closed for the busy breakfast and lunch dayparts all last week, one assumes because a lack of manpower.
It's a politicized issue, but the explanation is more nuanced than simply asking if eateries are paying enough or if folks don't have enough financial incentive to work at a restaurant. It all boils down to a lot of changes during the pandemic. Folks who would normally be waiting tables or flipping burgers have taken a shine to the gig economy, where they would rather deliver takeout through a third-party app on their own schedule than make the meals happen from the inside. A lot of the typically young industry hires also moved back home with their parents during the COVID-19 crisis, presumably with fewer bills to pay and less of a need to grind it out in the low-paying restaurant industry.
Source Fool.com
