Today, tens of thousands of U.S. fast food workers are striking to demand higher wages.
Between 2000 and 2012, the cost of two all-beef patties, special sauce etc. climbed 72%, to $US4.33 from $US2.51.
Over the same period, the median fast food worker wage increased just 33%, to $US8.78 from $US6.52.
For wages, that’s just $US0.07 above inflation.
And it means that whereas in 2000 fast food workers could purchase 2.60 burgers for an hour of work, today they can only purchase 2.02. (The key line is the yellow line)
Here’s the chart:
And here’s price changes:
Something’s gotta give.