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So the minimum wage increase has few negative consequences, business people admit. Wages for low skill jobs are going to have to go up. No one can realistically survive of $8 an hour. The only thing that held that up so long in NYC was various subsidies.
Large companies like Chipolte and Starbucks that can afford to pay more certainly need to pay more.
Minimum wage is discrimination against the unskilled poor. Unfortunately in a few years they will end up being unemployed as they become replaced by those that are slightly more skilled than them.
As long as people buy from them, they'll keep expanding. The question is, at what level do wages have to get to, where the companies will look at other ways to squeeze out employees.
Have you been to Panera Bread lately? If you have been, who took your order?
Keep in mind, the wage increase will have negative outcomes for the people working it.
They will be making more than the allowed minimum for any government assistance programs, including but not limited to welfare, medicaid, social security, public housing, ect...
So in the end the government will have more tax money to steal since the poor won't qualify for any of the programs....LOL
I suppose regretfully the real problem is how certain cities can get so out of line with the national average on cost of living that they become unaffordable on low (not necessarily minimum) wages.
Minimum wage is discrimination against the unskilled poor. Unfortunately in a few years they will end up being unemployed as they become replaced by those that are slightly more skilled than them.
I think in my lifetime a big chunk of these jobs will be automatized. For example people will go into a starbucks with a whole bunch of kiosks. You order what you want and there will be a skeleton crew with a manager behind the counter handling order logistics. I think all of these wage raises is actually going to accelerate the process unfortunately.
So the minimum wage increase has few negative consequences, business people admit. Wages for low skill jobs are going to have to go up. No one can realistically survive of $8 an hour. The only thing that held that up so long in NYC was various subsidies.
Large companies like Chipolte and Starbucks that can afford to pay more certainly need to pay more.
First of all the Crain's article was just that, no one knows yet what the long term effects of a $15 minimum wage in NY will be because it won't happen until after 2018.
Further more did you read the entire article?
"This is not to say $15 an hour in the city is a good idea. Studies of recent small minimum-wage hikes may not show job losses, but that doesn't mean there won't be harmful consequences from raising the wage so much, so quickly. It makes sense for New York to boast one of the highest minimum wages in the country; Cuomo is wrong to insist the state be No. 1 by a wide margin. Unfortunately, the Empire Center videos and the no-no-no opposition of the upstate business community have undermined credible opposition and efforts to find a compromise on the issue. "
Businesses can expand but by changing their model negate any effects of increased labor costs.
I think in my lifetime a big chunk of these jobs will be automatized. For example people will go into a starbucks with a whole bunch of kiosks. You order what you want and there will be a skeleton crew with a manager behind the counter handling order logistics. I think all of these wage raises is actually going to accelerate the process unfortunately.
Amen, and kiosks in casual dining will be the norm, as well as very few cashiers, but tons of self checkouts and RFID in future years checkout systems.
Amen, and kiosks in casual dining will be the norm, as well as very few cashiers, but tons of self checkouts and RFID in future years checkout systems.
Tablets at the table, order your food and drinks, show your receipt to restaurant security to leave.
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