Re:$15 minimum wage didn’t hurt NYC restaurants
by tanilama on Tuesday October 29, 2019 @08:48AM
(#21386495)
It doesn't work that way either. Consumers are not suddenly going to have more to spend due to hike of minimum wage.
If the inflation keeps low, total amount of money in the economy is relative constant, thus the cake is not getting much bigger, increasing minimum wage is going to reduce the number of jobs in the sector that is paying previous the minimum wage.
If the inflation keeps low, total amount of money in the economy is relative constant, thus the cake is not getting much bigger, increasing minimum wage is going to reduce the number of jobs in the sector that is paying previous the minimum wage.