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California - the State that is Hurting the Fast Food Industry
Manage episode 412154676 series 2930329
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As of April 1st, California has raised its minimum wage by 33% to $20 an hour for workers in the fast food industry. The impact it will have on the local economy will be catastrophic despite the claim that workers will have more money in their pockets. Raising wages leads to raising consumer prices, more layoffs and the eventual closing of smaller businesses. Larger businesses will further embrace technology as a solution to increasing labour costs. The California solution will lead the Golden State to further economic problems.
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