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Being employed in the fast-food industry is the surest way to end up in poverty as low-wage earner according to a new study.
A study in California by the nonprofit group Economic Roundtable has a reinforced previous findings that the fast-food industry has a large proportion of workers in poverty than any other. Fast-food workers unfortunately make low wages and have an inability to get full-time hours. Because of this, the industry has served as a significant driver of homelessness population by 51%, the study has found. Fast-food workers represent 1 in 17 of homeless people in California.
"We estimate that homelessness would have grown about one-fifth less in California if the fast-food wage floow was adequate to ensure that workers have stable housing," the study reads.
While fast-food workers struggle to make ends meet, the companies employing them are doing just fine. McDonald's ranked in $1.9 billion in profit during the fourth quarter of 2022, up from the year before, the company's filings show.
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