Title : Making NYC Great -- How The Socialists Do It -- March 2, 2019
link : Making NYC Great -- How The Socialists Do It -- March 2, 2019
Making NYC Great -- How The Socialists Do It -- March 2, 2019
In addition to killing 25,000 direct jobs and perhaps as many as 100,000 indirect jobs (cabbies, restaurant employees, bookstores; big box stores, etc), the socialists in NYC appear to be killing the existing restaurant business. It's now being reported that restaurant jobs decrease in NYC after the minimum wage hike. Surprise, surprise.So, you may lose your job due to the minimum wage, but if you are able to keep it, you will be paid more.
From the link:
The left achieved what it considers a major victory in New York when the minimum wage was raised to $15 an hour. In the aftermath of this victory, however, New York City has experienced its worst decline in restaurant employment since 9/11. So reports the Foundation for Economic Education.
It doesn’t take much economic education to understand what has happened.
Restaurants tend to operate on famously low profit margins, typically 2 to 6 percent. So a mandatory wage increase [from $11 an hour to $15] over a two-year period is not trivial.
Thus Article Making NYC Great -- How The Socialists Do It -- March 2, 2019
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