Stores closing due to min wage increases thread

[Dhraiden]

Speculation/overheated R.E.->Higher $/sq '+higher ppty taxes->higher lease-asks->higher prices charged->higher CoL->higher min. wage->rents are raised->loop back to step one

Combine that with an over-supply of labor and that automation is going to kill so many more low (and even medium) skilled jobs over the next decade, and then you'll see the econ really tank. People can't spend money if they're not making it, and the ultra-rich's spending habits don't have an affect on the tiers of the pyramid they sit above.


I run a small org and the fifteen dollar min wage is a factor, but not the factor, in limiting current hiring.

[Kefir King]

We are in a period of high inflation thtn the government and it's toady, the FED, will not admit. All they will admit is that inflation is the price increase of labor.
The REAL measure is the price increase of goods and services.


Have you been to a dentist lately or bought a cup of coffee. Have you bought a beef roast?

[dk1111]

Originally Posted by NJ Brazen_3133

Then they were likely expecting a downturn in business as well. They were going to be overstaffed with the downturn, plus a MW increase. But they likely let people go MW increase or not.

Turns out after I left, the customers were so irate by the skeleton crew that they boycotted the store. It was a big box petstore and the customers took photos of all the animals that were in bad health laying in their own excrement by the lack of staff to care for them and put loads of photos on social media. They also complained that the store was filthy and there was empty shelves due to a lack of staff to put the stuff out. It backfired on them big time. Health officials were even called in. They tried to get greedy and it didn't work for them.

[caribny]

Originally Posted by Dhraiden

I run a small org and the fifteen dollar min wage is a factor, but not the factor, in limiting current hiring.

Take $15/hour and multiply that with 40 hours and it is a factor for many mid sized businesses where meeting payroll every week is a challenge. They cannot tell their workers that money is tight because a customer paid late and rent or some city mandate resulted in a tight cash situation. Now they must meet this even if it means not paying themselves.

So it is a factor and a significant one at that, which is why so many struggle to get the amount of hours which will give meaning to the higher minimum wages. Labor is often the cost factor that is most readily controllable by these businesses.

[Kefir King]

Stores are closing because landlords are pushing them out with usurious rents.