Would a $15 Minimum Wage Destroy HV Restaurants?
Everyone wants more money and I get that but where does the money come from?
There's a good chance that you made minimum wage at your first job. Maybe even your first and second job. Heck, you might have even took a minimum wage job while in between a career shift. I made roughly $8 when I worked at McDonald's. The salary is life changing but it is not always supposed to be. I never in my wildest dreams thought I deserved almost as much per hour as with someone with a skilled trade.
As part of new legislation, New York will slowly be implementing a $15 minimum wage. This will hit certain regions of New York. Jobs in the city has been paying their employees $15 an hour for a while now and it doesn't seem to be going well for certain businesses.
Would the average restaurant in the Hudson Valley be able to comfortably compensate employees at $15? According to the New York Post, several restaurants could be shutting their doors because of the new legislation.
According to NY.gov, the current minimum wage is $11.10 and hour. That's quite a hike for a small business.
Yes, a business could pay their employees the wage but where will that money come from? Will they have to raise their prices? Would customers drop off?
If the $15 minimum wage hit the Hudson Valley would we see more local stores shut down?