California Fast Food Restaurants have cut 10,000 jobs since $20 Minimum Wage

If the GOP gets control of the entire government, $20/hr. wages for any will be a thing of the past. We will be returning to a pre-Industrial Revolution model with slave labor to serve the billionaire classes. Project 2025, baby!

 

How's the cucumber doing

 

Restaurants, like many businesses, are seasonal. And when you do seasonal adjustments to the numbers, CA didn't lose 10k jobs. In fact, YOY, CA actually added fast food jobs!

Here’s the problem with that figure: It’s derived from a government statistic that is not seasonally adjusted. That’s crucial when tracking jobs in seasonal industries, such as restaurants, because their business and consequently employment fluctuate in predictable patterns through the year. For this reason, economists vastly prefer seasonally adjusted figures when plotting out employment trendlines in those industries.

The Wall Street Journal’s figures correspond to non-seasonally adjusted figures for California fast-food employment published by the Bureau of Labor Statistics. (I’m indebted to nonpareil financial blogger Barry Ritholtz and his colleague, the pseudonymous Invictus, for spotlighting this issue.)

Figures for California fast-food restaurants from the Federal Reserve Bank of St. Louis show that on a seasonally adjusted basis employment actually rose in the September-to-January period by 6,335 jobs, from 736,160 to 742,495.​

 

A good place for Trump to work while in prison, in the lettuce fields. They could put him on a chain gang, but wearing chains can be rough on bone spurs. Anyway, working anywhere outside would give him a good orange tan.

 

The saddest part of this post is that a good percentage of Democrat voters will believe it.

 

I've only got four paragraphs to give you the main idea, but lots of stats and numbers in the article.

The fast-food industry claims the California minimum wage law is costing jobs. Its numbers are fake

Here’s something you might want to know about this claim. It’s baloney, sliced thick. In fact, from September through January, the period covered by the ad, fast-food employment in California has gone up, as tracked by the Bureau of Labor Statistics and the Federal Reserve. The claim that it has fallen represents a flagrant misrepresentation of government employment figures.

Something else the ad doesn’t tell you is that after January, fast-food employment continued to rise. As of April, employment in the limited-service restaurant sector that includes fast-food establishments was higher by nearly 7,000 jobs than it was in April 2023, months before Newsom signed the minimum wage bill.

...

Here’s the problem with that figure [the headline 10,000 jobs lost]: It’s derived from a government statistic that is not seasonally adjusted. That’s crucial when tracking jobs in seasonal industries, such as restaurants, because their business and consequently employment fluctuate in predictable patterns through the year. For this reason, economists vastly prefer seasonally adjusted figures when plotting out employment trend lines in those industries.

...

In other words, the lobbyists, the Journal and their followers all based their expressions of concern on a known pattern in which restaurant employment peaks into September and then slumps through January — every year.

 

This is where the logic begins and ends. The issue here is VALUE, what something is worth. AND that goes for both the customer and the business owner. If the minimum wage is "X" the business owner has three options, raise the prices to keep his bottom line intact and hope the customers don't go elsewhere, or, don't have as many employees and make the sammiches himself to save labor costs, or, decide to make less profit. Customer has some options too. Pay the higher price if it's no big deal or walk away and have something else. Everyone has options, including the employees.

 

That is excatly what they Dems wanted to happen. They are at war with the middle class.

 

Wait, fast food workers are "the middle class" now?

 

Even in Republican-dominated Florida, over 60% of voters voted to increase the minimum wage to $15 by 2026. That doesn't seem significantly out of line with California if we factor in the states' relative cost of living.

 

The minimum wage in 1950 was 75 cents an hour. Adjusted for inflation is less than $10 an hour. They raised it to $1 an hour by 1955. Adjusted for inflation that would be just above $11 an hour.
https://www.google.com/url?sa=t&sou...4QFnoECBAQBQ&usg=AOvVaw1aZvBJ5Gq-jbWqDUAf52Jf

 

The owners of these small businesses are the middle class...

You should at least try to pretend you know that.

 

You think an owner of a McDonald's franchise is the middle class? The average McDonald's owner makes $150k per year, which is higher than 91% of Americans. Hard to call somebody in the top 10% "middle class," isn't it?

 

That is household, not individual. That would only apply if there is no other income in the household.

 

These operators also have more than a million in equity too that is at minimum a half million in liquid funds. These aren’t your typical middle class.

 

Lol...

 

Ahh, so by middle class, you didn't mean middle income, you meant people you identify with for the sake of this discussion.