Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

Less than zero

Sep 17, 2019
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy

Why restaurant wages are outpacing everybody else’s

Nancy Marshall-Genzer Sep 9, 2015
Share Now on:
HTML EMBED:
COPY

Restaurant workers’ wages have been growing about a percentage point faster than everybody else’s in the private sector for the past two years, according to federal figures. And as the unemployment rate falls, the pool of excess workers is shrinking.

“In the worst of the downturn there were nearly seven job seekers for every job opening,” says Heidi Shierholz, chief economist at the Labor Department. “Now there’s around 1.6.”

So, there are fewer workers to choose from. As the economy recovers and more people go out to eat, restaurants are expanding. That’s the backdrop for the Chipotle restaurant chain’s hiring spree set for Wednesday. The company wants to hire 4,000 people in a day.

“Restaurants talk about this battle for talent,” says Sara Senatore, the senior research analyst covering restaurants at Bernstein. “Six years into this recovery, we’re having competition for people in the restaurants.”

That competition has driven restaurant wages higher. Also, many restaurant workers live in states or cities that have increased the minimum wage, so they’re automatically getting a bump.

 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

“I use clips from the show in my classes so students can grasp complex ideas and make connections to their own lives.”
Ashley, Ft. Worth, TX
Marketplace Investor