Then comes the $15 an hr people. Just figure you make hamburgers and the law raises the minimum wage to $15. It's not political, it's just common sense that the first thing the boss does is cut people and hours. Next will be robot to put secret sauce on your burger, just like the soft drink girl went bye bye with self service. And most don't even remember the guy that used to come gas you up, check your oil, and wipe the windows.
All you have to do to figure out economics is to imagine what you would do if you owned the business. Labor cuts are almost always number one. Fuel price goes up, cut workers. Price of meat skyrockets, fire somebody.
Don't forget the revisions DOWNWARDS( always), for April and May, and nearly 500k left the workforce....again, to give us a magical 4.7% unemployment. Real unemployment is closer to 9%+, but how do you prove that to Obama sycophants. Even coal miners have figured it out now.
H-1B visas first took over entry level, then senior, then moved on to middle managers.
Now they’re being imported to be Directors and VPs, and they will lay off millions.
I’ll take the robots, thank you very much.
My employer told us in no uncertain terms that ObamaCare was the reason our rates (and copayments) went up, but they didn’t have to: Our insurance company was in the news for the losses it incurred under the law.
The burger flippers themselves are facing a dearth of people willing/able to pay someone else to prepare their food anyway; a McDonald’s near me installed the extra drive-thru lane just as business dropped steeply...