Fast-food workers are getting a raise in California. 2 big downsides.
Fast-food workers are getting a raise in California. 2 big downsides.
- March 25, 2024
- David Neumark, economics, Barrons, March 25, 2024
If fast-food chains cut jobs on a large scale to offset the costs, however, there will be a larger labor supply, and wages could actually move lower in sectors not covered by the new rules, said David Neumark, an economics professor at University of California, Irvine. “Within the same industry, you can be flipping burgers at McDonald’s and make more than those flipping burgers at a diner,” said Neumark, pointing to examples in other countries when one particular sector was protected over others.
For the full story, please visit https://www.barrons.com/amp/articles/fast-food-workers-minimum-wage-raise-california-5716384f.
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