TL;DR "for many American businesses, this also has been a good year for profits, with some corporations notching record or near-record gains." "a sizable 177

TL;DR "for many American businesses, this also has been a good year for profits, with some corporations notching record or near-record gains." "a sizable 177 businesses have closed since 2021, although exit interviews suggest a multitude of reasons, including labor costs, but also inflation more broadly and challenges posed by leases, entertainment industry strikes and changes in consumer behavior after the COVID-19 crisis" "the rapid jump in West Hollywood’s minimum wage came after years in which its pay rate trailed that of Los Angeles and neighboring cities." "Many workers were already making $19 or more an hour" "This year, more businesses have opened in West Hollywood than have closed" "Mario Vollera and his partners are gearing up to open Southern California’s second Roosterfish bar in West Hollywood, in the space where reality TV star Lisa Vanderpump had once operated her restaurant lounge. 'I’m not that concerned,' he said of West Hollywood’s pay rules." "This business owner was one of 21 employers who received a temporary exemption from the citywide minimum wage or paid-leave rules, after supplying proof that the rules would lead to a substantial cut in staff or work hours." "West Hollywood’s City Council responded by giving employers relief on an annual business tax and parking and outdoor dining fees, totaling about $2.5 million" "Low-wage workers have seen the biggest gains." "experts say that the changes, on the whole, may not make a big difference for employment"