After Just Six Months NYC Businesses Slashing Jobs and Hours over Min Wage Hike - Granite Grok

After Just Six Months NYC Businesses Slashing Jobs and Hours over Min Wage Hike

termination you're fired

Don’t listen to New Hampshire Democrats when they whine about working people’s wages. Gov. Sununu harpooned their job-killing minimum wage bill. The Legislature needs to sustain that veto. And we can look to Liberal New York City for evidence.

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It’s been over six months since New York City implemented a mandatory $15 minimum wage, and businesses are already starting to struggle with the increased labor costs, … “They’re cutting their staff. They’re cutting their hours. They’re shutting down,” says Queens Chamber of Commerce president, Thomas Grech – who reports seeing an uptick in small business closures over the past six to nine months.

“It’s not just the rent.”

  • Nearly 50 percent of respondents to the Hospitality Alliance’s survey said they would have to eliminate jobs in 2019 to make do.
  • Roughly 77 percent of NYC restaurants have slashed employee hours.
  • Thirty-six percent said they had to layoff employees 
  • And 90 percent had to increase prices following the minimum wage hike.

Left-Wing minimum wage bills are economic gentrification. Small businesses struggle and close while “Big Business” more easily absorb costs (and thank the Left for destroying their competition).

Arbitrary wage mandates punish the people they are promising they will help. They push employment and job skills out of reach and result in fewer hours, lower total wages and a loss of benefits.

If starting employees with no skills get more money existing employees with skills will expect to be paid that and more adding to the financial strain on the business.

And this raises prices (another added cost) for everyone. It’s a disaster, just ask NYC.

And you guessed correctly, given the choice, new businesses will not start or expand in the Granite State knowing that such state-mandated fixed costs cannot be avoided. Some will leave taking jobs and wages with them.

There is no pro-growth, pro-job, pro-worker strategy that begins with progressive busybodies injecting themselves into this conversation. It’s the exact opposite.

Politicians can’t define the value of labor. Every effort to do so has failed and harmed the people they claim they meant to help. But I think we have demonstrated often enough, at least from the Left, that this is never the goal. And that’s not to say they are all in on it. Most of them have never thought it through. 

But party leadership is always happy to grow-government. Rising unemployment and state-managed hand-outs will do that. It also has a convenient tendency to get-out-the-vote for people forced onto those government expansions.

But you know what does invite new start-ups, encourage job creation, more hours, higher wages, and skill acquisition? Letting employees and employers define that relationship.

New Hampshire’s economy is in amazing shape. Democrats want to make us more like New York City.

Governor Sununu was right to veto their job-killing legislation.

| ZeroHedge