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re: California's minimum wage hike blamed for Fosters Freeze store closing down
Posted on 4/8/24 at 2:21 pm to TBoy
Posted on 4/8/24 at 2:21 pm to TBoy
quote:
“Small businesses can't survive a 120% plus min wage increase over the last 10 years. We are all more broke than we were 10 years ago its clear raising min wage isn't helping,” he wrote.
California has seen a consistent and significant increase in its minimum wage over the past decade. In 2014, the state’s minimum wage was $9.00 an hour. Today, it’s set at $16 an hour, rising to $20 an hour for fast food workers.
quote:
They hadn't lost a penny due to the new minimum wage.
Looks like over the last 10 years they have been losing money and the latest hike was going to be more than they could handle.
This post was edited on 4/8/24 at 2:25 pm
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