4 ms·
No, higher minimum wage shouldn't increase the labor cost "universally". Most of the cost increase would be felt by those employers who actually paid wages belo
by bayesian_horse 6y ago
No, higher minimum wage shouldn't increase the labor cost "universally". Most of the cost increase would be felt by those employers who actually paid wages below the new limit. Which isn't even that great a portion of the economy.
There might be some effect diffusing upwards, but I doubt it.
- ItsMonkk 6y agoRight, which is why I clarified each time I said that. Software costs don't go up as they don't rely on minimum wage labor. For restaurants, that almost universally rely on the cheapest labor, this is the case. If Burger King and McDonalds both have higher labor costs, both put pressure on their land owner, and both don't end up caring.