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California’s minimum wage increase has cost the state thousands of jobs worth of growth in the state’s booming restaurant industry, according to a recent study by the University of California Riverside.
California passed a bill in 2016 to bring the state’s minimum wage up to $15 an hour. For businesses with more than 25 employees, the state’s minimum wage rose to $12 in January and will hit $15 in January of 2022. Other businesses have until 2023 before the full $15-an-hour minimum takes effect.
Increases - State - Minimum - Wage - Years
“However, increases to the state’s minimum wage in recent years have been the fastest since California first set a minimum wage in 1916 — and that pace is creating certain negative consequences for smaller businesses and people who need the most help rising out of poverty,” Thornberg said.
“Data analysis suggests that while the restaurant industry in California has grown significantly as the minimum wage has increased, employment in the industry has grown more slowly than it would have without minimum wage hikes,” the study, published in April, says. “The slower employment is nevertheless real for those workers who may have found a career in the industry.”
Researchers - Minimum
Researchers studied the minimum...
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