Re:Seattle: Highest Minimum Wage, Lowest Unemployment Rate
by ryuker16 on Sunday October 30, 2016 @01:09PM
(#12830881)
Don't minimum wage people purchase slot of fast food? Wouldn't a minimum wage hike lead to increased sales to offset the hike?
I repair alot of I. T. At many major chains so I visit them regulary. They seem pretty efficient and an extra $20 an hour of labor costs doesn't seem like a game changer. Especially if it reduces turn over or improves employee moral. Would definitely hurt something like a stake n shake.. 24/7 operation and tons of kids.
Re:Seattle: Highest Minimum Wage, Lowest Unemployment Rate
by RangerScience on Sunday October 30, 2016 @05:15AM
(#12828831)
Interesting! I like this method.
Edit: Can we see the results of your analysis anywhere? That would be super interesting.
Not too long ago it was part of my job to analyze the minimum wage hike and how it will effect fast food restaurants. Like most things in the real world, the nitty gritty details are complicated. The gist of it is that fast food restaurants in the United States are going to become even less profitable as the minimum wage increases. And in an industry where it's considered great if your margins are 5%, that can be pretty bad.