Posted on 05/13/2021 9:54:42 PM PDT by Olog-hai
U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and keep up with a flood of customers as the pandemic eases.
McDonald’s, Sheetz and Chipotle are just some of the latest companies to follow Amazon, Walmart and Costco in boosting wages, in some cases to $15 an hour or higher.
The pay gains are, of course, a boon to these employees. Restaurants, bars, hotels and stores remain the lowest-paying industries, and many of their workers ran the risk of contracting COVID-19 on the job over the past year while white-collar employees were able to work from home.
Still, the pay increases could contribute to higher inflation if companies raise prices to cover the additional labor costs. Some businesses, however, could absorb the costs or invest over time in automation to offset higher wages. …
(Excerpt) Read more at apnews.com ...
Higher prices means fewer customers than you would have gotten with the lower prices. It does not guarantee how many fewer customers, which could be a sizable number. You willing to shell out $12 for a Big Mac and/or $20 for a “combo” meal?
More likely he will be out of business faster, but we will see. I wish them the best.
“ You willing to shell out $12 for a Big Mac and/or $20 for a “combo” meal?”
The Whataburger near my house starts people at $15 and I get my Whataburger combo for just over $8.
There will be no $20 combo deals at McDonalds.
Wait until they do have to pay the $15/hour.
And wait until the effect hits Whataburger.
They will find a way to put out the combo meals with LESS labor!!!
An ambitious person today might be able to weasel his way into a gig that he might not have been able to land a year ago...
Home prices go down with increased interest rates.
Pay mor? Geneus. Who wuld have thunk that wud git mor werkers...
Now a Big Mac is gong to cost $5,888.23 for each one!!!!
Riding wages are always a good thing in the long run.
Come man, you are not that economically stupid, are you? If wages go up it is almost negligible to the end consumer. If a cook makes 60 hamburgers an hour and he gets a raise and now makes and additional $6.00/hr then that adds $0.10 more to each hamburger. See how that works?
The combo deals are already more expensive at McDonalds than they had been, nearing $10 - while dollar menu items still remain cheap (I cobble together meals from that).
AND, as so many ignore, so does the buying power of those giddy over their $15/hr wage.
They are no better off than they were before.
Just how it works.
There are more people involved than just a cook.
Maybe 5 people, at the least.
So you are up to $.50 with no increase in productivity or other mitigating factors.
So your dollar menu burger just went up to $1.50.
Backdoor minimum wage hikes without having to pass any new legislation. All under the guise of helping struggling families (who are only struggling because the state governments shut down their own economies).
Been saying it for months! Wage war with the Federal Government.
Always, always remember that minimum wage isn’t about a fair wage for skills, it is eugenics and about eliminating people from the labor pool.
“Documenting the use minimum wage by eugenicists, Thomas C. Leonard wrote in 2005 that progressives:
“believed that binding minimum wages would cause job losses. However, the progressive economists also believed that the job loss induced by minimum wages was a social benefit, as it performed the eugenic service ridding the labor force of the ‘unemployable’.”
https://medium.com/the-enclave-of-others/the-racist-history-of-minimum-wage-5dd71ebf0770
And prices will go up separate from market force making it artificial. This is in no way a good thing.
6 States are cutting off the extra $300/wk to get people to go back to work.
Prices go up so wage raise means nothing...
In 1950 the hourly wage was a dollar
But now, do your best to explain why rising wages are always a good thing in the long run, as you erroneously claim.
I made 10 times what my father made, but in reality I had less buying power than he did.
If your claim were true than everyone would have had 100.00 an hour incomes supplied to them during the Great Depression.
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