Interesting analysis on CA's minimum wage increase

[DJ Spanky]

I know we're all aware of what a bad idea this was, but the analysis in this article is spot on.

California’s fast-food minimum wage hike is backfiring

In total, fast food prices have gone up in California by 10% since September, a larger increase than in any other state. Restaurants have already passed those prices on to consumers, as was expected, and are cutting hours and adding kiosks. Fewer hours for employees means less money, fewer sales to consumers means less business, which means fewer hours for employees, and automated kiosks mean a reduced need for employees, which means fewer hours (or jobs) for employees.

 

[Fac]

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