Sunday, November 24, 2024

The Minimum Wage Loses

Voters realize it would raise prices and put them out of work

By Michael Saltsman and Rebekah Paxton. Excerpts:

"proposals to change the tipping system are unpopular with restaurant workers. In July, research consultancy CorCom released a survey of nearly 4,000 restaurant employees in states considering changes to their tipped minimum wage laws. Ninety percent preferred the status quo—a lower base wage with higher tips—to a higher base wage with potentially lower tips."

"In September 2023, Gov. Gavin Newsom signed into law a $20 minimum wage for fast-food workers. From September through April (when the change went into effect), fast-food prices in the state climbed more than 10%. The industry has lost more than 4,400 jobs since January, according to seasonally adjusted data."

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