California's minimum wage hike did not cause job losses.
From the article: As I reported in June, the California Business and Industrial Alliance placed a full-page ad in USA Today, citing the Wall Street Journal’s figure of 10,000 fast-food jobs lost during the fall and early winter and describing 12 restaurants or chains as “victims of Newsom’s minimum wage.”
This was “baloney, sliced thick,” I wrote. Some of the chains listed were victims of other economic factors, such as competition, or financial manhandling by their private equity owners.
The figure of 10,000 job losses proved to be a statistical error: The Wall Street Journal used non-seasonally adjusted job figures, so it missed the fact that fast-food employment always falls in the September-January period, so the looming minimum wage played no role.
https://www.latimes.com/business/story/2024-10-10/column-the-latest-data-on-californias-20-minimum-wage-for-fast-food-workers-higher-pay-no-job-losses-minimal-price-hikes
This was “baloney, sliced thick,” I wrote. Some of the chains listed were victims of other economic factors, such as competition, or financial manhandling by their private equity owners.
The figure of 10,000 job losses proved to be a statistical error: The Wall Street Journal used non-seasonally adjusted job figures, so it missed the fact that fast-food employment always falls in the September-January period, so the looming minimum wage played no role.
https://www.latimes.com/business/story/2024-10-10/column-the-latest-data-on-californias-20-minimum-wage-for-fast-food-workers-higher-pay-no-job-losses-minimal-price-hikes
36-40, FVIP
