Minimum wage hikes trigger 'payroll tsunami,' as small businesses cut back
Recall the old adage: "The road to Hell is paved with good intentions"
Raising the minimum wage puts the squeeze on the employer of low skill workers. The value add just isn't there.
From the article:
"Small business owners across the country are beginning to feel the pinch as more states move toward a $15 minimum wage.
While proposals to raise pay are intended to help workers, several mom-and-pop coffee shops as well as restaurants are responding by cutting hours, eliminating jobs or closing down entirely because they can't keep up with rising wages under the law."
Raising the minimum wage puts the squeeze on the employer of low skill workers. The value add just isn't there.
From the article:
"Small business owners across the country are beginning to feel the pinch as more states move toward a $15 minimum wage.
While proposals to raise pay are intended to help workers, several mom-and-pop coffee shops as well as restaurants are responding by cutting hours, eliminating jobs or closing down entirely because they can't keep up with rising wages under the law."
