How will Roanoke/SW Virginia handle the minimum wage hikes (Fredericksburg: buying, income)

[Taggerung]

Over the weekend, the minimum wage across the state of Virginia increased by $2.25. Now, instead of the federally mandated minimum of $7.25, the minimum wage in the state sits at $9.50.

However, the increase doesn’t stop there. The raise that went into effect on May 1 was just the first phase of an incremental rise. In January, the minimum wage will increase to $11 dollars an hour and in 2023 it will be $12 dollars an hour.

https://www.wjhl.com/news/local/virg...wage-increase/
With Northern Virginia and their liberal politics increasingly dominating the politics of the entire state, how will these minimum wage hikes affect Roanoke and SW VA in general? I'm from 'northern Virginia' (Fredericksburg) and I will be moving to Roanoke next year, most likely, that's why I'm curious to know. Of course, NOVA and SWVA couldn't be more different from each other- yet the NOVA political machine is deciding policies for SWVA and the rest of the state.

[Bigfoot424]

It will no different in Roanoke than most anywhere. I am N of Roanoke and have several friends here who own small businesses. One says he may have to let go a couple part-timers meaning he'll be putting in more hours. He has one full time employee and they've said they can pick up a few hours. Businesses will make it work and I would imagine we'll likely see a slight increase in prices to handle this wage increase.

[16 Acres]

It's going to put more pressure on. Most will probably survive it, but some won't. Others will have to use creativity. A shoe-string business may just drop their employee(s) and run their businesses themselves. Others yet still will raise their prices only to find out less people are buying.

On the flip side, we are seeing inflation just about everywhere, so things may really even out and we may just be back where we were.

Time will tell...

[ExAustin]

Would really like to see larger businesses bear more of the burden and pay a proportional share.

[16 Acres]

Large businesses can fail too.

Sears and K-Mart are two good examples.

[ExAustin]

Yes but neither of those failures were due to raising worker income... which is rarely a problem for megacorporations.

[gemstone1]

Originally Posted by 16 Acres

Large businesses can fail too. Sears and K-Mart are two good examples.

They did not fail because of the wages they were paying employees.

Regards
Gemstone1

[Serious Conversation]

I would expect some minor price increases, but not a ton of difference. $15/hr is not a lot of money, even in southwest VA.

[16 Acres]

Originally Posted by ExAustin

Yes but neither of those failures were due to raising worker income... which is rarely a problem for megacorporations.

Originally Posted by gemstone1

They did not fail because of the wages they were paying employees.

Regards
Gemstone1

I agree, but any business that is struggling, for whatever reason, would be even more effected by the wage hike.

Think of it as the straw that broke the camel's back.

[16 Acres]

Originally Posted by Serious Conversation

I would expect some minor price increases, but not a ton of difference. $15/hr is not a lot of money, even in southwest VA.

I dis-agree. With a $15 across the board wage hike, I say we would see big changes in our area. Remember, the old minimum was $7.25. There is no way we can more than double the wage and not be effected by it, if it were to be implemented. Luckily, it is not going to that level, that fast anyway.

I say even the $11 level installed in January will make an impact.

You may just see your favorite store one day be no longer there.

The only thing that could possibly save us is Inflation. It very well could even things out as as mentioned earlier, although in a complicated way.