How Big is the Fast Food Industry

These numbers are from Wikipedia

Business

In the United States, consumers spent about US$110 billion on fast food in 2000 (which increased from US$6 billion in 1970).The National Restaurant Association forecasted that fast food restaurants in the U.S. would reach US$142 billion in sales in 2006, a 5% increase over 2005. In comparison, the full-service restaurant segment of the food industry is expected to generate $173 billion in sales. Fast food has been losing market share to fast casual dining restaurants, which offer more robust and expensive cuisines.

Employment

According to the U.S. Bureau of Labor Statistics, about 4.1 million U.S. workers are employed in food preparation and serving (including fast food) as of 2010. The BLS’s projected job outlook expects average growth and excellent opportunity as a result of high turnover. However, in April 2011, McDonald’s hired approximately 62,000 new workers and received a million applications for those positions—an acceptance rate of 6.2%. The median age of workers in the industry in 2013 was 28.

 

More than Half of U.S. Fast Food Workers Receive Public Aid

News organizations took note when the Labor Center at UC Berkeley and economists at the Universtiy of Illinois released a new report showing that more than half of U.S. fast food workers are receiving some type of public assistance. Here is The Los Angeles Times story, followed by a link and excerpts to the report itself.

 

LATImes 10/15/2013

More than half of U.S. fast food workers on public aid, report says

By Alana Semuels

More than half of families of fast food workers receive some sort of public assistance, costing the nation $7 billion a year, according to a new report distributed by a group that has been pushing for union representation and higher wages for fast food workers.

Fast food workers earn an average of $8.69 an hour, and often work fewer than 40 hours a week, qualifying them for food stamps, Medicaid and tax credits, according to the report, written by economists at UC Berkeley and the University of Illinois at Urbana-Champaign.

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