Fast-casual chain Chipotle has announced it wants to hire 10,000 new employees after it hired 8,000 in May as many cities and states began to reopen. Chipotle isn’t alone, McDonalds, Starbucks, Yum Brands (owner of Taco Bell) all have announced new waves of hiring. Papa Johns and the Flynn Restaurant Group which owns many Applebee’s, Panera and Arby’s franchises also said it has been on a hiring spree.
As the $600 a week federal stimulus ended most of these food chains reported an increase in applications. However, the economy, while reporting slow gains, is “not as strong as this may appear,” said Jim Stearns, an economist and professor with the University of Texas. “All of these jobs are in the hospitality sector, which typically pays very low wages except for managers and higher. We need to see hiring happening at skilled trades, professional services, and industrial operations to feel better about how things are going for the average American.”
Also seeing an increase in revenue, albeit slowly, are airlines, hotels, tourist destinations such as Disney World in Orlando and Las Vegas casinos as well as manufacturers who make essential items like Clorox and Purell.
Home sales have remained healthy, mainly because interest rates have hit near rock bottom added Stearns, so related industries to home sales have been doing well also.