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On the one hand, the new $20 minimum wage raised prices by just 3.7% and didn’t reduce jobs, according to a U.C. Berkeley/Institute for Research and Labor Employment study. That 3.7% increase indicates that customers absorbed 62% of the cost increase.
Same article reports that Gavin Newsom says the state gained 7,400 fast food jobs.
On the other hand…the Employment Policies Institute states that the UCB/IRLE study’s claim that the modest price increase reflected increases over just four weeks, from two weeks prior and two weeks subsequent to the wage hike. EPI states that prices rose over 10% in just seven months.
The same EPI states that California lost 6,166 jobs, as opposed to Newsom’s claim.
California Shed More Than 6,000 Jobs Due To Fast Food Wage Law
Audaces fortuna iuvat
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