ThE fREE mArKeT
This was a government action and not a market action. As the article states, the people were happy with their pay. Now they don’t have a job and they are unhappy with their pay. The free market already had this under control.
zeekaran@sopuli.xyz 7 months ago
mp3@lemmy.ca 7 months ago
Everyone’s cost of living has increased post-pandemic, minimum wage need to rise. The restaurant could have raised their price as well but chose not to, either because they think their clientele can’t afford it (increased cost of living, which is what rising the minimum wage can offset), or because the market is already saturated and they’re no longer competitive.
Something/someone has to give in when there’s inequality.
wintermute_oregon@lemm.ee 7 months ago
By forcing a higher wage, they just created more inequality. Now these people don’t have jobs and the total number of jobs has been reduced.
mp3@lemmy.ca 7 months ago
And these vacant positions elsewhere also need to pay minimum wage. It’s a temporary setback until the system adjust to the new minimum.
wintermute_oregon@lemm.ee 7 months ago
The total job market is reducing. That means there will be fewer jobs. California already has higher unemployment. So they just created a worse situation for these people. The job market for them keep getting smaller.