More than doubling that level would be an unprecedented leap. If labor costs doubled suddenly, restaurant owners would have to raise prices significantly in order to stay in business. Not coincidentally, labor-intensive restaurants have very high prices, while less-labor-intensive grocery store prices are much less shocking.
This Is How Much A Big Mac Would Cost If The Minimum Wage Was $15
Forty-five thousand dollars! To add insult to injury, the Dane gets at least five weeks of paid vacation while the American is lucky to get off unpaid, of course when her daughter is home sick with the flu.
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Of course, Baum is empirically wrong. The labor participation rate for working-age Danes is And amongst teenagers and those aged 20 to 24—the group most likely to have low-paid jobs—far more Danes work than Americans, as this Bureau of Labor Statistics chart shows:. Baum ignores the fact that higher wages for lower workers means dramatically increased demand for goods and services from them, and it incentivizes work.
This is from its Danish annual report thanks Google Translate! It is money that, for the vast majority of whom, in addition to going to tax also goes to consumption, thereby helping to stimulate economic activity in Denmark.
Raising fast-food hourly wages to $15 would raise prices by 4%, study finds - MarketWatch
Big Mac numbers too good to check—or to correct. Fixes and non-fixes following a Huffington Post story. In its letter, McDonald's said it was "committed to playing a meaningful role in the spaces we occupy. Related Stories:.
Raising fast-food hourly wages to $15 would raise prices by 4%, study finds
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