by Daniel Drew
image: http://www.dark-bid.com/Images/Ronald-Rejected.JPG
In society, exclusivity creates desirability.
Whether it’s that special country club or elite college, privilege is
defined by the rejection rate. In the previous era, the Ivy League was
one of those prized organizations, and McDonald’s was the exact
opposite. Now, the New Normal has seized our social convention and turned it on its head.
In 2011, McDonald’s announced it would hire 50,000 new employees on
April 19 for its National Hiring Day. They eventually hired 62,000
people. Over 1 million people applied.
This is noteworthy because many commentators have accused the
unemployed of being lazy and unwilling to work. One Zero Hedge reader
summarized it best:image: http://www.dark-bid.com/Images/Zero-Hedge-Comment.JPG
With 62,000 hired out of more than 1 million, that leaves the McDonald’s acceptance rate at 6.20%. Let’s see how that compares with the Ivy League acceptance rate in 2011.
image: http://www.dark-bid.com/Images/Ivy-League-Acceptance-Rate.JPG
The results are not good. Of course, some
commentator will inevitably scold me for comparing the two, as the
difficulty of these two tasks are obviously very different. When I say
it’s “harder” to get a job at McDonald’s, I mean it’s harder
statistically speaking, as if you were a gambler in Vegas playing the
odds. From this perspective, the results are indisputable. It would make
more sense to bet on the Ivy League applicant
image: http://images.intellitxt.com/ast/adTypes/icon1.pngthan the McDonald’s job seeker. It has been four years since McDonald’s National Hiring Day. Time for a check-up. Let’s see how the McDonald’s Class of 2015 compares with the Ivy League Class of 2015.
image: http://www.dark-bid.com/Images/Bachelor-Degree-Labor.jpeg
image: http://www.dark-bid.com/Images/Class-of-2015-debt.jpg
image: http://www.dark-bid.com/Images/McDonalds-Employee-Earnings.JPG
While the average college student accumulated
over $25,000 in debt, the average McDonald’s part-time employee made
$40,000 over 4 years. At an Ivy League school, there are generally
three possible ways to confront the bill: get a scholarship, have
wealthy parents cover the entire bill, or go into massive debt. Some of
these Ivy League students might be paying off their debt for decades.
Meanwhile, instead of being in the hole, the part-time McDonald’s
workers made money
image: http://images.intellitxt.com/ast/adTypes/icon1.pngoverall. Of course, they are all on food stamps, but never mind that. It makes sense that the Ivy League is exclusive. A ticket to the American aristocracy and a seven-figure income
image: http://images.intellitxt.com/ast/adTypes/icon1.png
in investment banking or consulting is definitely quite the adventure. But not everyone can make it, and not everyone is interested in that lifestyle. Most people just want to live a normal life. But “normal” isn’t what it used to be. Forget the Alpha Beta Kappas and the Gamma Theta Vegas. Now, if you can get into the French Fry Fraternity, you are living high in the new American dystopia. The McDonald’s job situation shows what a farce the official unemployment rate really is. According to the government’s goal-seeked data, the unemployment rate is 5.4%. Meanwhile, in reality, 93.8% of applicants can’t even get a job at McDonald’s. If you can’t get a job there, where can you work?
Can the situation get any worse? Yes. A company called Momentum Machines has dubbed themselves “The Next Industrial Revolution.” They made a machine that can make 400 hamburgers per hour.
image: http://www.dark-bid.com/Images/Momentum-Machines.jpg
Momentum Machines cofounder Alexandros Vardakostas said the device “isn’t meant to make employees more efficient. It’s meant to completely obviate them.”
The McDonald’s acceptance rate will keep getting lower and lower. In a society where efficiency is all that matters, eventually, the economic concept of “human capital” will be superseded by “human liability,” where humans are targeted for replacement or outright extermination.
Read more at http://investmentwatchblog.com/getting-a-job-at-mcdonalds-harder-than-getting-accepted-to-the-ivy-league/#AcgVKdBZU0IupZUZ.99
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