From 7.35/hour to 20/hour is a hell of a lot more than 10%. Even from 16/hour to 20/hour (what CA is experiencing here) is more than 10%.
If a job isn’t worth 20/hour to the employer, it simply doesn’t make sense to pay that much to an employee. The state is forcing the issue regardless of the reality of the situation.
Labor, whether skilled or unskilled has a finite level of worth to an employer, plus there is competition in the marketplace for good employees in both realms. After a point, an employee or job seeker can price themselves out of the market all on their own and find that they need to learn a new trade/pursue a new career if they want to garner better wages. That, or they have to settle.
That’s just the way the market works.
Unless you are a fan of price and wage controls and arbitrary limits on how you do business.
This is what I am talking about. This is the mindeset of an anti worker, anti capitalist and anti free marketeer. A capitalist and true free marketeer says labor is subject to the laws of supply and demand. YOU, the user of labor, have NO control over the supply or the demand of the any comodity ESPECIALLY LABOR. Get it?????
The govt setting a floor on wages affects everyone using labor the same. Deal with it. The govt ( politics ) plays a huge part in economics. That is an unchangable fact. Sorry the academic world of pure economics only exists in text books.