Last year, the left-wing state of California hiked the minimum wage to $20 an hour (but only for fast food workers) and now the cost of this wage hike has been calculated at a loss of 4, 256 jobs in the fast-food industry.
The new wage went into effect in April of this year and since that time the fast-food industry has lost more than 6,000 jobs according to the restaurant industry think tank, the Employment Policies Institute, even as Gov. Gavin Newsom has tried to claim that the industry has gained 11,000 jobs — a number that no one believes.
Per Just the News:
With fast food jobs bouncing widely from their low point in the winter to their high point in the summer, both EPI and Newsom appear to be selectively choosing their data to bolster their cases, but the latest quarterly report from the Bureau of Labor Statistics shows an unambiguous decline of 4,256 fast food jobs through June since the law went into effect at the start of April.
Food jobs grew from March to June of 2024 by only 406 jobs, while the year before they grew by 9,118 jobs in the typical hiring ramp-up into the busier summer months, says BLS data analyzed by the Employment Policies Institute.
According to Revenue Management Solutions, a company that analyzes restaurant transactions to optimize menu pricing, California menu prices in June were up 7.5% year-over-year, but foot traffic is down — nationwide menu prices were up 3.1% with foot traffic down 3.6% compared to the year prior.
“This decline is a clear indication that customers are opting to skip a fast-food visit altogether rather than pay higher menu prices,” said RMS.
The left is an economic wrecking ball in every way.
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Cross-posted with The Lid
Related:
- California Passes New Law Establishing Fast-Food Minimum Wage Of $20/Hour; McDonald’s To Spend $250,000 More Per Restaurant Per Year
- Chipotle Tests Robotics as California’s Minimum Wage Law Goes into Effect
- CBO Warns $15 Minimum Wage Will Kill 1.4 Million Jobs; House Dems – Let’s Do It!
- More State Regulations and Higher Minimum Wage
- Virginia House of Delegates candidate calls for $26.80 minimum wage, $15,000 guaranteed income
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