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Thread: Effects of minimum wage hike

  1. #1

    Effects of minimum wage hike

    No free lunch.

    http://www.forbes.com/sites/timworst...rtner=yahootix


    There really is no free lunch. A rise in wages will come out of either less labor being employed, lower profit margins (and fast food doesn’t have those wide enough to take the strain) or price increases to consumers.

    And it’s that last which is happening as Mark Perry points out:

    • In our weekly survey of ten of Chipotle’s markets, we found the company implemented price increases in half of the surveyed markets this week—San Francisco, Denver, Minneapolis, Chicago, and Orlando. In most markets, the price increases have been limited to beef and average about 4% on barbacoa and steak, toward the lower end of management’s expectation for a 4% to 6% price increase on beef.

    • San Francisco, however, saw across-the-board price increases averaging over 10%, including 10% increases on chicken, carnitas (pork), sofritas (tofu), and vegetarian entrees along with a 14% increase on steak and barbacoa. We believe the outsized San Francisco price hike was likely because of increased minimum wages (which rose by 14% from $10.74 per hour to $12.25 on May 1) as well as scheduled minimum wage increases in future years (to $13 next year, $14 in 2017, and $15 in 2018).
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.



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  3. #2
    History says, a very probable new spike in black teen unemployment.

    But the unions that peg their automatic contract pay rates to the min wage, tend to just make out like bandits (and again vote Democrat).

    Best damned government money can buy.

  4. #3
    Enjoy your $10.00 McBurgers.

  5. #4

  6. #5
    Quote Originally Posted by tod evans View Post
    Enjoy your $10.00 McBurgers.
    Either that and/or you enter your order into an electronic kiosk & pay with a credit card or Apple pay.

  7. #6
    Quote Originally Posted by mello View Post
    Either that and/or you enter your order into an electronic kiosk & pay with a credit card or Apple pay.
    Bring on the robotics. I'm much more than ready. Maybe they can manage to make correct change.

  8. #7
    Quote Originally Posted by Ronin Truth View Post
    Bring on the robotics. I'm much more than ready.
    You may end up being some robot's pet.

    Einstein once said: “If the rat were 20 kilos heavier it would definitely be the ruler of the world”.

  9. #8
    Quote Originally Posted by timosman View Post
    You may end up being some robot's pet.

    Einstein once said: “If the rat were 20 kilos heavier it would definitely be the ruler of the world”.
    That would just tend to make the government really jealous. Hmmm, good!

    I've got a Glock 45 that says, NOT.

    40+ pound rats, the solution to world starvation.
    Last edited by Ronin Truth; 07-09-2015 at 05:31 AM.



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