Jessica Burbank and Amber Duke discuss the consequences of California’s minimum age increase, including the shuttering of businesses and loss of 10,000 jobs. #minimumwage #gavinnewsom
This isn’t a problem, and it is totally expected. Some companies can afford to pay more and some can’t. It’s not like there are new businesses that can open up because of it. Whenever you have something that may close some businesses and won’t open new ones, there has to be a net loss in the number of businesses. The businesses that can survive get more businesses and hopefully hire back some of the people who lost their jobs.
I don’t know about those streamers, but yeah, it did seem like a bad idea to jump the fast food minimum wage all at once. Of course there will be a bit of a shock, which is why previous minimum wage hikes were phased in over time.
But I call shenanigans on the rest.
- they did not support that a minimum wage hike really means 10% cost increases. There’s a lot of other inflation and profit seeking that could be included here.
- how important is 10k job loses? For context, out of how many jobs in California?
It’s a good thing Companies were NOT laying off thousands of workers BEFORE the Increase!
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