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One of the most confounding parts of last week's abysmal jobs report was the disconnect between the unemployment numbers and the help wanted signs plastered in the windows of almost every restaurant and retail store.

Axios Re:Cap goes deeper with Brian Niccol, CEO of Chipotle Mexican Grill, which just announced average starting wages of $15, to discuss pay, labor shortages and the CDC's new indoor masking guidance.

Go deeper

McDonald's raising hourly wages at company-owned restaurants

Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images

McDonald's on Thursday announced it will be increasing hourly wages for current employees at company-owned restaurants, with entry-level staff eligible to earn up to $17.

Why it matters: The company said it hopes the move will attract new applicants as it looks to hire 10,000 new employees ahead of the "busy summer season."

Companies turn to pay hikes to lure workers

Illustration: Brendan Lynch/Axios

More hourly workers are getting a pay bump. Thank the new war for employees.

Why it matters: To meet the demand that's only expected to get more ferocious as reopening continues, companies are having to bid up to attract workers.

Retail sales flat in April after huge surge in March

Illustration: Aïda Amer/Axios

April retail sales in the U.S. were unchanged from March, which saw a surge revised up to 10.7%, according to the latest Commerce Department report published Friday.

Why it matters: The U.S. has been entering a period of growing optimism in the wake of the vaccine rollout, falling new COVID-19 cases and deaths, and a slowly recovering labor market. Retail sales were up 51% year-over-year compared to April 2020.