Considering that during the Obama administration, the only job category that has performed remarkably well has been fast food workers, waiters and bartenders, a category which has added 571,000 jobs since 2014 as the US has lost 34,000 manufacturing workers in the same period…
… it is perhaps fitting that the next Labor Secretary will be the CEO of fast food chains.
According to the WSJ, Donald Trump is set to name fast-food executive Andy Puzder as labor secretary. Puzder is the chief executive of CKE Restaurants Holdings, the parent company of the Carl’s Jr. and Hardee’s burger chains, and has been a vocal advocate for cutting back regulations he says have stifled growth in the restaurant industry, which represents 10% of the American workforce.
Puzder’s burger chains have a combined 3,750 locations in 44 states and 40 countries and U.S. territories. Puzder has served as chief executive officer of the company since September 2000. Long based in California, the company is in the process of consolidating its corporate headquarters in Nashville. Roark Capital owns CKE, having purchased the company from Apollo Global Management in December 2013.
Mr. Puzder, chief executive of CKE Restaurants Holdings Inc., the parent company of the Carl’s Jr. and Hardee’s burger chains, has been a vocal advocate for cutting back regulations he says have stifled growth in the restaurant industry, which represents 10% of the American workforce.
Mr. Puzder, an adviser and contributor to Mr. Trump’s campaign, has criticized the Affordable Care Act and has argued against raising the federal minimum wage higher than $9 an hour. Democrats have called for raising the federal minimum wage for as high as $15.
Mr. Puzder is on the board of the International Franchise Association, a trade group that has criticized the Obama administration, saying it attacked the franchising model by implementing regulations that stunt job growth. Instead of focusing on stepping up workplace regulation to create jobs and higher wages, Mr. Puzder would likely call for tools such as an overhaul of the tax system, said Matt Haller, a spokesman for the franchise trade group.
In the past, Puzder has written opinion pieces for The Wall Street Journal on topics such as the negative effects of President Barack Obama’s health-care law and of broad increases in minimum wage. Including franchisees, CKE has about 75,000 employees in the U.S., and nearly 100,000 world-wide, with total sales of more than $4.3 billion.
With this appointment, we expect the universe of waiters and bartenders to really take off.