$15 minimum wage didn’t hurt NYC restaurants

Re:$15 minimum wage didn’t hurt NYC restaurants by arzt on Tuesday October 29, 2019 @08:28AM (#21386344)

Anecdotally I have to agree. Having lived in Manhattan for the past decade, I have seen more restaurants close in the last two years than the previous eight. Most of lower Manhattan's retail footprint is filled with chains (Starbucks etc) rather than neighborhood restaurants.

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Re:$15 minimum wage didn’t hurt NYC restaurants by nickdoesdesign on Tuesday October 29, 2019 @08:40AM (#21386435)

Thats a factor of rising rents not rising wages. Its been well documented that rent seeking is causing this behavior.

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Re:$15 minimum wage didn’t hurt NYC restaurants by thawaway1837 on Tuesday October 29, 2019 @08:56AM (#21386557)

So restaurants which have the lowest margins (chains) are proliferating but restaurants with higher margins are failing.

That seems to indicate that worker pay isn’t really the issue here.

And it’s well known the reason restaurants are closing shop is almost because of outrageous rents.

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Re:$15 minimum wage didn’t hurt NYC restaurants by kiba on Tuesday October 29, 2019 @08:44AM (#21386473)

If you have to pay something ridiculous like 13k a month, I am sure you go out of business too.

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Re:$15 minimum wage didn’t hurt NYC restaurants by BubRoss on Tuesday October 29, 2019 @08:57AM (#21386570)

If I had to pay that much in rent, I wouldn't go into business.

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