Independent thinking for complex markets and current events
California’s recent move to raise the minimum wage for fast-food workers to $20 per hour, up from the current $15.50, effective April 2024, has sparked significant discussions about its impact on the labor market, businesses, and the broader economy. The decision, which follows legislative efforts to bolster the wages of the state’s lowest-paid employees, has …
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Californians are getting a lesson in economics courtesy of the state’s new minimum wage law. A new law, taking effect this past Monday, created a minimum wage for fast-food workers of $20 an hour. The New York Post reported that many chains in the state have already increased their prices to deal with the new wage. Which …
This result shouldn’t surprise anyone. Inflation has driven up operational costs for businesses across the US and shrunk profit margins for major food chains in the past few years. This has led to higher menu prices (like the “$18 Big Mac”) and slowing sales for every major fast food company. Another anchor dragging on the restaurant …
Thousands of jobs have already been eliminated by California’s law to raise the minimum wage to $20 for restaurant workers, which goes into effect April 1. For eight years, Michael Ojeda delivered food for a Pizza Hut in Ontario, California, using the income he received to support his family. In December, the 29-year-old received a letter from …
1) California hit 445,103 this week for continuing claims pic.twitter.com/SIWR07FrTO — WarnTracker 2.0 (@j77324) March 30, 2024 3) California lost 3,400 jobs last month. The new fast-food minimum wage goes into effect next week. I’m curious to see what impact it will have, if any. pic.twitter.com/kxbf8yEQ1E — WarnTracker 2.0 (@j77324) March 30, 2024 The top …
California restaurants are reportedly laying off staff and reducing hours for other team members in an effort to cut costs ahead of a California state law taking effect on April 1 that will raise fast-food workers’ hourly wage to $20. In the months leading up to the wage mandate, California eateries, particularly pizza joints, have …
Thousands of farmers protested in India’s capital on Thursday to press their demand for a new law that would guarantee minimum crop prices, after weeks of being blocked from entering the city. They rode crowded buses and trains instead of their tractors to New Delhi after authorities barricaded highways into the capital with cement blocks …
This is blatant corruption! The California minimum wage increase conveniently spares Panera, owned by a buddy of Governor Gavin Newsom. The bill’s provision exempting fast-food joints baking bread on-site seems like a tailored loophole to benefit Newsom’s pal, Panera’s CEO Greg Flynn. This corrupt relationship between Newsom and Flynn raises serious ethical concerns and undermines …
By Martin Armstrong California is raising the minimum wage of fast food employees from $16 to $20 under the FAST Act. I have explained that raises to California’s minimum wage was restricted due to successful lobbying efforts on behalf of fast food establishments. The new law does include commercial fast food restaurants, excluding Panera Bread. …
The moderator asked Lee to defend her call for a $50-an-hour minimum wage during the event, noting that it is “seven times the current national minimum wage of $7.25 an hour.” When asked how that would be economically sustainable for small businesses, Lee immediately said that she owned and ran a small business for over …
via Mike Shedlock Prices at fast food restaurants in California are set to jump in April as huge minimum wage hikes kick in. Escalating restaurant prices won’t be limited to California. Expect to Pay More California already has some of the highest fast food prices in the nation. Expect to pay still more, and not …
Orlando Sentinel (via MSN) Florida lawmakers are considering new laws that aim to keep children away from sexually explicit websites and harmful social media posts, joining a movement gaining momentum in state capitals across the country. One proposal (HB 1) would restrict access to social media platforms for anyone under age 16. Another measure (HB …
Anyone who thinks you can just magically force companies to pay a wage they can’t afford is a fool. Pizza Hut Fires Over 1,200 Drivers In California Before California's $20 Minimum Wage Comes Into Effect. More fast food firings are expected before April 1sthttps://t.co/DLQvZ0DJ0r pic.twitter.com/nIdBQE2eNc — California Globe (@CaliforniaGlobe) December 27, 2023 Multiple Pizza Hut …
Pizza Hut franchise is laying off 366 delivery drivers because of California’s new $20/hour fast food wages Two Pizza Hut operators in California are eliminating their in-house delivery services at hundreds of stores, resulting in more than 1,200 driver layoffs, according to federal employment notices reviewed by Business Insider. The layoffs, effective throughout February, affect …
President Biden’s push to increase the federal minimum wage to $15 an hour would cost more than 1.5 million jobs and drive up the cost of goods and services, the US Congressional Budget Office projected Monday. The nonpartisan federal agency also found that the “Raise the Wage Act” would see the federal deficit balloon to a …
via nysun: New York City consumers could pay more for meals at home, and face fewer options for delivery across the city, after a judge allowed a new minimum wage to go into effect for app-based food delivery people. The delivery service companies and New York’s restaurant association say they will pass the added costs …
by TonyLiberty Minimum wage hikes are coming to many US states in 2024. The most notable increase will be in California, where fast-food workers will be paid at least $20 per hour. Other states raising their minimum wages include: Hawaii (up 16.7% to $14), Nebraska (up 14.3% to $12), Maryland (up 13% to $15), Delaware …
Hawaii will raise minimum wages 16.7%, Nebraska 14.3%, Maryland 13% and Delaware 12.8%. The most notable wage increase of all may be California’s targeting fast-food companies, which beginning on April 1, 2024, requires big employers like McDonald’s and Chipotle to pay the state’s estimated 500,000 fast-food workers at least $20 per hour. But employers of …
New plans for a minimum global rate for big firms will allow foreign nations to pilfer UK and US profits… If anyone had the slightest doubt that the UK is being run by Globalists…Relinquishing Tax Law to another world authority is as bad as giving up sterlinghttps://t.co/QXoSkqpmjC pic.twitter.com/LQxe97oAVF — Tess Summers 🏴🇮🇪 (@tesssummers98) November 2, …
However, even though a $20 minimum wage is less extreme than a $22 minimum, California’s new fast food minimum wage will surpass the highest basic minimum wage in all other states—Washington DC’s $17 minimum wage is the closest to California’s new minimum for fast food workers. According to the Bureau of Labor Statistics, California fast …
The state’s minimum wage for all other workers – $15.50 per hour – is already among the highest in the United States When it takes effect on April 1, fast food workers in California will have among the highest minimum wages in the country California fast food workers will be paid at least $20 per …
by BrutalBodyShots Many of us give the [sound] advice of “always pay your CC statement balance in full monthly” as it’s the right approach for financial health. Those new to credit cards get confused by the difference between the statement balance and the “minimum payment” required. That’s exactly what the credit card companies want, as …
via CNBC: Part time workers will make $21 from currently $15.50. Full time workers will be paid $49 an hour an increase of $7.50 over the contract. Total compensation with benefits will be $170,000. Average base pay before overtime or benefits will be approximately $102,000. The new contract includes pay raises for both part-time and …
…”mandate universal background checks, institute a waiting period for all gun purchases, and ban assault rifles for civilians – while leaving the Second Amendment intact. Additionally, the Right to Safety will affirm Congress, states, and local governments can enact common-sense gun safety laws that save lives.” This is obviously on the state level. It’s calle the …
by Dismal-Jellyfish Source: https://www.federalreserve.gov/publications/files/large-bank-capital-requirements-20230727.pdf Wut mean?: Following its stress test earlier this year, the Federal Reserve Board today announced the individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are in part determined by the Board’s stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The …
by Dismal-Jellyfish https://www.dtcc.com/-/media/Files/pdf/2023/7/11/GOV1510-23.pdf https://www.dtcc.com/-/media/Files/pdf/2023/7/11/MBS1248-23.pdf https://www.dtcc.com/-/media/Files/pdf/2023/7/11/18775-23.pdf https://www.dtcc.com/-/media/Files/pdf/2023/7/11/a9319.pdf https://www.dtcc.com/-/media/Files/pdf/2023/7/11/a9319.pdf Wut mean? The National Securities Clearing Corporation (NSCC), along with the Depository Trust Company (DTC) and the Fixed Income Clearing Corporation (FICC), are increasing their minimum capital requirements for members. These changes were proposed in December 2021 and approved by the U.S. Securities and Exchange Commission (SEC) in …
Today is worse, today you need like four min wage hours to cover door dash fees to get the Bic Mac delivered to you pic.twitter.com/P1lcJmWfkX — Travis H ✞ (@hallectj) June 17, 2023
