According to a news report from WIVB Channel 4, fast food workers are planning a nationwide strike. The strike, planned for this Thursday, is to protest wages and healthcare. According to the Huffington Post, the demonstrations will take place in the top 150 Cities in the United States. The article does not name the Cities, or say if Chicago was one of them.
According to an article in Huffington Post; the median household income in the State of Illinois is almost $58,000 dollars. The median income for homeowners is almost 20% higher than the median income of renters. Nationwide, the median income is less than $53,000. Maryland, at just under $72,000, has the highest median income in the United States. Mississippi, at just under $38,000, has the lowest.
According to the website payscale.com, fast food worker makes just over $7 per hour. This figure does not include tips or bonuses. There is not a discernable difference between new hires and their more experienced colleagues.
75 employed Chicagoans were asked to give their opinion of the planned demonstration. Almost 80% of those surveyed were not in favor of the demonstration. Of the 60 not in favor; half of them felt that the market would adjust, and that wages would eventually adjust to the proper levels. None of the respondents currently work in the fast food industry.
Supply and demand are staples in the United States economic system. It implies that the value of any commodity (e.g. food, labor, cars) will be determined by what people are willing to pay for it. The one thing that cannot be accounted for as the market stabilizes is time. Given this, will a protest, walkout or strike do more harm than good?