The 'McJobs' Stimulus Package: McDonald's to Hire 50,000 People on April 19

By Daniel Fromson

A reminder that McDonald's is one gigantic company? Several news outlets are reporting that the company plans to hire 50,000 employees in a single day, a number that is roughly equivalent to a quarter of the new jobs created in the entire U.S. in March:

In a high-profile sign of confidence in the U.S. economy, McDonald's (MCD) revealed plans on Monday to hire up to 50,000 workers nationwide.

The fast-food giant said it plans to hold a hiring event on April 19 in an effort to recruit new employees for full and part-time spots at nearly 14,000 U.S. restaurants.

"Our restaurant employees are the foundation of our business. They are the men and women who interact with our customers every day, enhance the McDonald's experience, and continue to help make our business strong," Jan Fields, president of McDonald's USA, said in a statement.

According to a study done by a California State University professor, the McDonald's mass hiring will boost spending by McDonald's and its franchisees by more than $518 million in wages and salaries in the coming year.

The new hires will translate to an addition of $54 million in payroll taxes and generate almost $1.4 billion in annual spending, equaling more than $3.5 million per day, the study showed.

Read the full story at FOXBusiness.

This article available online at:

http://www.theatlantic.com/business/archive/2011/04/the-mcjobs-stimulus-package-mcdonalds-to-hire-50-000-people-on-april-19/236649/