Reported about 15 hours ago
A study from UC Berkeley found that California's recent $20 minimum wage for fast food workers, implemented in April 2024, resulted in an 18% pay increase without significant job losses or major price hikes. While there was a modest price rise of about 3.7% for menu items, the increase was less than expected, indicating that many fast food chains absorbed the costs. This new wage standard, impacting around 750,000 workers, suggests that raising the wage floor can improve pay without jeopardizing jobs, providing a potential model for other states.
Source: YAHOO