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> The vast majority of the cost is labor and their salaries are shockingly close to minimum wage on average. But minimum wage is down substantially in real ter
by onlyrealcuzzo 2y ago
> The vast majority of the cost is labor and their salaries are shockingly close to minimum wage on average.
But minimum wage is down substantially in real terms. So why are costs up substantially in real terms?
- xp84 2y ago> minimum wage is down substantially in real terms. I don't know if perhaps it is where you live, and regionally lots of things vary a lot, but in California: 2010 MW was $8. $8 in 2010 is worth $11.58 in 2024 dollars according to a BLS calculator. Today the minimum wage is either $16 (or $20 if you work in fast food for some reason) Minimum wage is up substantially in real terms here.