How US fast food chains can raise wages without raising prices

Wage increases at fast food chains like McDonald’s and Chipotle have largely solved their labor shortages, according to the companies’ latest earnings calls. The staffing challenges in the US are “getting better,” said Chris Kempczinski, McDonald’s CEO, on a conference call with analysts and investors July 28. In May, the chain said it was raising hourly wages for its US company-owned restaurants by 10% over the next several months, where entry-level workers will make $11 to $17 per hour, and shift managers will make $15 to $20 an hour, based on location.