Texas fast food chain is spending $ 50,000 in wages for teens and adults in their early 20s to run restaurants as executives struggle to find skilled workers amid a labor shortage nationwide.
Garrett Reed, CEO of Layne’s Chicken Fingers, said a downturn in the job market had hampered his company’s growth and forced him to pay hefty wages to workers who would earn around $ 12 an hour in positions of entry-level after having promoted them to management positions.
“The biggest challenge for small businesses to grow right now is your workforce,” he said. “We would increase twice as fast if we had more people. “
JOB OPPORTUNITIES ARE SOARING TO RECORD 9.3 MILLION JOBS, RAISING FEARS OF A WORKFORCE SHORTAGE
“There is only what I can pay and remain profitable without raising the prices too much,” he added.
He continued, “We are so thin in leadership that we can no longer expand to open more locations. I have a good crop of 16 and 17 year olds, but it takes me another year or two to get them used to running stores.
Job vacancies hit a record high in late April, the Labor Department revealed on June 8, exacerbating fears about declining numbers of workers nationwide. The number of available jobs has risen from around 1 million to 9.3 million, the highest number since the agency began the calculations in 2000.
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Some experts have argued that President Joe Biden’s initiative to provide an additional $ 300 in weekly unemployment assistance has left some in a position where staying home is more lucrative than finding a low-paying job. At least half of the nation’s states have moved or are considering phasing out Biden’s additional unemployment funds to ease the effects of the work problem.
The $ 300 payment from the federal government has been added to what a resident already receives from their state government. Average total weekly unemployment earnings, including Washington money, are around $ 687.