New York Minimum Wage Hike is KILLING Small Businesses

Beginning on the last day of 2015, NY State began to slowly raise the minimum wage with the intention of bringing it to $15/hour by 2019. The NY minimum wage hikes are proving to be particularly damaging to the restaurant industry where the minimum wage increases have been higher other industries.

Per the NY Post:

On Dec. 31, 2015, the minimum wage for tipped restaurant employees rose by 50 percent, from $5 an hour to $7.50 an hour. For fast food workers, it rose by as much as 20 percent, from $8.75 to $10.50 depending on business size and location.

And on Dec. 31, the minimum wage for fast food employees rose as high as $12 in New York City,… Meanwhile, the statewide minimum wage rose to between $9.70 and $11 an hour for non-fast food, non-tipped employees.

As expected those increases are already having a sour effect on the restaurant Industry:

The Empire State lost 1,000 restaurants last year and the number of jobs as cooks, servers and dishwashers grew by an anemic 1.4 percent. That’s a far cry from the 4.4 percent annual growth the state’s eateries enjoyed from 2010 to 2015, according to the Employment Policies Institute, a nonprofit research group.

A thousand restaurants, the usual result of one of liberal NY Gov. Cuomo’s programs. Cuomo is pushing hard to implement every job-killing progressive program possible, he’s already pushed through oppressive gun laws, banned fracking which would add jobs and income to the state, and made sure the state would attract illegal immigrants criminally trespassing aliens.  The guy wants to be the 2020 Democratic Party nominee.

In New York City, where the Restaurant business is a big part of the economy the minimum wage rise is hurting employment…

 

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