Right. In high COL areas there simply isn't enough affordable housing for those on the lower end of the income scale. And there will always be people on the lower end of the income scale. I've talked with many servers (anecdotal and only one industry) in my area that have to live far out of town, or are leaving the state because they simply can't afford or find a place to live in reasonable proximity to the work. And serving in nice restaurants doesn't even place a person that low on the income scale. The reality here is that even increased wages won't make housing appear. Another thread for sure.
To me it just shows there is no need for a minimum wage law any more. The demand for labor is just too high.
It's cheaper than McDonalds. A pound of grass fed beef and some buns makes way better, way healthier and way cheaper dinner than the fast food pits give us.
New housing aren't likely to ever appear in places like San Diego either. To the west, you have the Pacific. To the south, Mexico, and to the east protected mountains. Throw in military installations and already developed land between San Diego and LA, and the chances of new, low income housing to be built in the area is very low. The town of Sedona, AZ is a similar situation, situated in a valley, and as the saying goes, if you work in Sedona, you don't live in Sedona. If you live in Sedona, you don't work. Most people who work in Sedona live in Cottonwood or Flagstaff. With recent inflation, it shouldn't surprise anyone to see subsequent wage increases. Wage increases aren't usually a large driver in inflation, as the increased buying power drives demand. And current inflation was caused by a significant disruption in supply, not demand. As for the question, is someone flipping a burger worth $20/hour? I say, let the market decide. If McDonalds in California remain profitable, than the answer is yes. It's really that simple.
It's pretty crazy Out here in CA, at least in my town, solving the housing shortage for lower income folk has meant building more single family structures, oddly, despite the lack of land. This has led to an increase in homes being built in mountain washes (don't know how developers get away with it other than greasing politicos). Of course the lack of housing is good for me if I want to sell my house because that increases the value, but bad if we're talking about sustaining the city itself and ensuring others who can't afford houses to even find affordable apartments. Of course, it also makes owning a home much tougher even with good hh income. And my town is more of a place for those servers you mentioned, who are more likely to live here and commute to jobs in LA or Orange County, which are far more expensive areas.
And if businesses go out of business it would be too late to reverse the increases,as if people would ever give back wages.
If your business cant make money paying wages that people cant make a living on, your business deserves to fail
California's minimum wage is going to $16/hr next year. In-and-Out already pays the average hourly worker over $19/hour in CA, has better quality food, and is cheaper than McD's. If McDonalds can't compete at $20/hour, then they don't deserve to remain open. But I bet they adjust.
I think the left needs to look in the mirror before calling out broken records. I specifically remember many here saying that pumping one and a half year’s GDP in liquidity into a supply constrained economy would not cause inflation. Then you spent most of 2021 and 1Q of 2022 claiming that you were right because the inflation “hadn’t happened yet”. Then 2Q22 showed up and everyone realized how wrong the left was. I’m not against paying labor what they are worth, but really now, who is going to regularly drop over $10 for a McDonald’s meal? Time to buy some Smucker’s stock. A PBJ beats the hell out of a $15.00 Quarter pounder meal. The UAW strike is another example. The union is putting themselves out of business. The big three will just move up the rest of their automation plans and lay 50% more of them off.
Yeah, but can BK burgers and fries go for six years while showing no signs of rotting? Unnatural resistance to rotting is how I determine good fast food
I was doing a similar IF schedule but after going back to swimming I can’t even make it to lunch time most days. Hoping that changes soon.
Couldn’t you say the same but opposite. If I can pay person A less than person B for the exact same job why wouldn’t I ?