New York City Experienced Worst Decline in Restaurant Jobs since 9/11 After $15 Minimum Wage Win

Raising the minimum wage is an odd political act. It satiates activists who are supposedly for the poor, but many economist argue that it is a policy of bankrupting mom and pop businesses and forcing their workers out of jobs.

(From FEE)

Data show that following the labor movement’s “Fight for $15” victory, which imposed steep annual increases in mandatory wages for workers, New York City experienced its sharpest decline in restaurant jobs in nearly 20 years.

And this while the economy is “healthy”.

In response to the minimum wage hikes, New York City restaurants did what businesses tend to do when labor costs rise: they increased prices and reduced labor staff and hours.

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Author: Nick Sorrentino


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