Restaurant Workers Lose Their Jobs Over Newsom’s $20 Minimum Wage

Reality.

 

The fast food industry in California is dying. Why?

 

That's a bit backwards.
As inflation has eaten away at the current min wages over the history and min wage increases are due to playing catch up to inflation.
And often still behind the inflation rate that occurred between min wage increases.

...
Minimum Wage vs. Inflation: Wages Worth Less Today
The federal minimum wage was last increased in 2009, when it rose to its current level of $7.25 per hour. When adjusted for inflation, the high-water mark for minimum wage occurred in 1968, when it was the equivalent of about $12 per hour in today’s dollars.
https://www.forbes.com/advisor/personal-finance/minimum-wage-vs-inflation/

...
In reality, min wages at fed level should mostly pertain to fed workers.
As wages are NOT uniform across the country as cost of living is not uniform across the country.
So, States is where min wages should be settled. Perhaps even, just cities within States where COL is higher.

But min wage laws always lag inflation and plays catchup to prevailing wages in a given area.

 

Not in most people's world.
Presidents have no control over world wide inflation. Have next to ZERO control over USA inflation.

Inflation are market driven by external forces.
Say a pandemic.
Or world wide oil embargo. (See reason for 1970s, 80 high inflation) Or will you blame 80s high inflation on Reagan?

 

Really?
And what data do you have to show McDs and other fast food places are dying in Ca?

30K fast food places in CA.
57K workers. Not even 2 workers per Fast food restaurants.
Automation can keep fast food restaurants in business.

...
California is home to 30,000 fast-food restaurants that employ more than 57,000 workers, according to the SEIU.
https://www.restaurantbusinessonlin...t-food-industry-faces-another-landmark-change

 

The amount sold is related to prices.

 

Democrat governors shut down their states hard. States like Florida and Idaho where respective governors took the time to understand the data did not. They opened schools very quickly.

 

You're not informed. Do some research. Fast food industry in California is dying.

 

Reference was made to the real median household income. Your graph above is not in real dollars which are adjusted for inflation.

 

Not entry level jobs. People that need entry level jobs are priced out.

 

So, Investopedia is wrong?

 

While I don’t fully disagree with you on this I wouldn’t call my statement backwards in the slightest. The states that do keep up with inflation on minimum wage in recent years have most definitely had slower growth. Like I say, it’s not the only factor but it is a factor none the less. Other factors include crime, drugs, and the labor market. However… I feel minimum wage is a large factor in this.

 

Schools don't generate economic activity.

So, you think dem govs controlled the entire world economics.
I call BS on that.

 

Really?
I see many of entry level jobs at hotels. Perhaps even golf courses.
Working in fields picking produce. Etc.
There's a shortage of workers in many many low wage jobs.

 

LOL. I just gave you a link. And you think I didn't do research?


You have provided nothing. Just a claim and a dismissal of a story about fast food in Ca.

Perhaps you should do research.
Or run for president as a republican.

 

Where's your data?
From a non partisan source?

Don't just blow off data because it's not partisan enough.

 

Have you heard of the supply vs. (economic) demand curve??

 

Even though min wage affects a very very tiny portion of workers?
I doubt min wage is why growth is fast or slow.

 

The FRED chart is posted above.

 

Yes really. And you will see fewer employees at these locations due to increases in the minimum wage.

 

It’s not just the workers. It also pulls money out of the economy in larger taxes and makes economic activity more expensive. Going against free market costs always as an ill affect on the economy.

 

Closing schools reduces economic activity.

Global progressive governance like the US democratic governors of for example California, New Jersey, and New York shutdown the global economy.

 

So investopedia is wrong?

I think that site addressed that also.

 

Yet, for nearly 100 yrs of min wages and increases, the USA economy still thrives and is a world leader.

Sorry. I won't buy it hurts.

 

LOL.
I am not buying CA and NY control the worlds economies.
Was the USA the only economy in the world to slow down and have a recession?