John Stossel says a few years ago, he reported that Seattle’s minimum wage hike killed jobs. Now, California is making the same mistake.
Stossel says fast food workers in California fought hard for a $20 minimum wage and they won. Now they have to face the unintended consequences: Job loss, higher prices, automation replacing people, and fewer opportunities for the young and unskilled. Will politicians ever learn? Here’s his report.
Sean Reynolds, host of News for Reasonable People, says California fast-food chains, particularly Pizza Hut, will be laying off employees at a record pace, while hiking food prices as the the state’s new $20 minimum wage for employees.
What else did you expect from Commiefornia? Says Reynolds, “A lot of people are going to get fired and you, as the consumer, are going to pay closer to that $18 Big Mac than you want to, as prices rise.” The wage hike, which takes effect April 1, is applicable to businesses with 60 or more locations nationwide, aims to aid workers amidst rising living costs.
But Reynolds says the move by the fast-food chains is sparking debate over its potential impacts. Critics argue that while the wage increase might seem beneficial on paper, it could lead to job losses, higher consumer prices and a shift towards third-party delivery services, as companies strive to manage increased labor costs. Here’s more.
